KAZAN, Russia — On Wednesday, President Vladimir Putin of Russia welcomed Xi Jinping of China, Narendra Modi of India, and other global leaders to the BRICS summit, reflecting the Kremlin’s intention to challenge the influence of Western nations.
At the opening of the BRICS meeting, Putin highlighted the importance of intensifying cooperation within the financial sector as a key point of discussion. He noted that the agenda also encompasses various international matters, including the resolution of regional conflicts and the potential expansion of BRICS membership.
“The strategy of BRICS on the international stage aligns with the aspirations of the majority of the global community,” Putin remarked.
Originally consisting of Brazil, Russia, India, China, and South Africa, BRICS has broadened its horizons by including new members such as Iran, Egypt, Ethiopia, the United Arab Emirates, and Saudi Arabia. Additionally, countries including Turkey, Azerbaijan, and Malaysia have formally expressed a desire to join, with others showing interest as well.
The three-day event being held in Kazan saw participation from 36 nations, underscoring the failure of U.S.-led initiatives to isolate Russia following its actions in Ukraine. The Kremlin described this gathering as “the largest foreign policy event ever hosted” by Russia.
BRICS has been portrayed as a counterweight to the Western-centric global order, particularly since Russia initiated military operations in Ukraine in February 2022, aiming to strengthen ties with nations in the Global South.
Russia is actively advocating for the establishment of an alternative payment system that would enable financial transactions without relying on the global banking messaging service known as SWIFT, thereby mitigating the impact of Western sanctions and facilitating trade with its partners.
Ahead of the summit’s commencement, Putin engaged in discussions with Xi, Modi, and South African President Cyril Ramaphosa, conducting over a dozen bilateral meetings on the sidelines of the event.
In a notable meeting with Xi, Putin underscored that the relationship between Moscow and Beijing serves as a critical stabilizing influence on the global stage. He committed to enhancing collaboration across various multilateral platforms to promote global stability and establish a more equitable world order.
“Amid significant historical transformations, the global landscape is undergoing profound changes,” Xi stated, acknowledging the “unprecedented nature” of the ties between Russia and China.
The relationship between Russia and India has also strengthened, as New Delhi continues to regard Moscow as a reliable ally since the Cold War, despite Russia’s closeness to India’s key adversary, China.
While Western nations have urged India to take a more proactive stance in encouraging Russia to terminate its military campaign in Ukraine, Modi has refrained from condemning Russia and instead advocates for a diplomatic resolution. “We fully support the swift establishment of peace and stability,” Modi stated during his last visit to Russia in July.
On Thursday, Putin is anticipated to meet with United Nations Secretary-General Antonio Guterres, marking Guterres’s first visit to Russia in over two years. Guterres has been vocal in his criticism of Russia’s actions concerning Ukraine.