Russian President Vladimir Putin led the closing session of the BRICS summit in Kazan, emphasizing the bloc's significance as a counterbalance to the West. The three-day summit focused on enhancing financial cooperation, exploring alternatives to Western payment systems, resolving regional conflicts, and expanding the BRICS group.
The original BRICS alliance of Brazil, Russia, India, China, and South Africa has grown to include Iran, Egypt, Ethiopia, UAE, and Saudi Arabia. Turkey, Azerbaijan, and Malaysia have applied for membership, with other countries expressing interest.
During the summit, Putin highlighted shared aspirations for a new democratic global order among potential new members. The event, attended by 36 countries, underscored the failure of U.S.-led attempts to isolate Russia over Ukraine.
Russia advocated for a new payment system to bypass Western sanctions, aiming for greater financial autonomy. The joint declaration from the summit criticized unilateral coercive measures and emphasized the need for efficient cross-border payment instruments.
Chinese President Xi Jinping stressed the bloc's role in global security and proposed a peace plan for Ukraine with Brazil. Despite Russia's Ukraine invasion, Putin and Xi maintain a strong partnership, meeting multiple times this year.
Russia's collaboration with India, a historical ally, has deepened. While Western allies urge India to influence Russia on Ukraine, Indian PM Modi has pursued a peaceful resolution without condemning Russia.
Putin, engaging in bilateral meetings, was scheduled to meet with U.N. Secretary-General Antonio Guterres, sparking controversy amid the Ukraine conflict.
