USA
Source: www.reuters.com

MOSCOW, Oct 16 (Reuters) - Russian President Vladimir Putin will host a summit of BRICS leaders next week, seeking support in his standoff with the West from the expanded group that now represents about a third of global economic output.

Russia says the event will be attended by leaders from Brazil, India, China, South Africa, Egypt, Ethiopia, Iran and the UAE, and Saudi Arabia - which has been invited to join - will be represented by its foreign minister.

Here are some of the proposals Moscow will put forward:

BRICS CROSS-BORDER PAYMENTS INITIATIVE

An alternative payment system in national BRICS currencies that would include a new messaging system and a network of national commercial banks linked to each other through the BRICS central banks, removing the need to exchange local currencies through the U.S. dollar.

The system would be immune to external pressure and will use blockchain technology to store and transfer digital tokens, backed by national currencies, to make it more secure and reduce transaction costs. The aim is to keep trade flows between member countries running smoothly even if one or more members are denied access to the international financial system.

BRICS CLEAR

An international settlement and depository infrastructure that Russia says would enhance cross-border trade in national securities. The idea is to allow all members to retain full access to BRICS financial markets even if they are cut off from Western financial infrastructure.

BRICS REINSURANCE

The proposal is to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members in the event that Western reinsurance firms, who dominate international trade, refuse to provide their services.

This issue is especially relevant to Russia as Western countries have since 2022 applied a price cap on its oil, blocking access to Western shipping and insurance services if the oil is sold for more than $60 a barrel.

BRICS CONTINGENT RESERVE ARRANGEMENT

An international financial facility aimed at supporting member countries during times of economic crises that would serve as an alternative to funding from the International Monetary Fund (IMF).

BRICS GRAIN TRADE EXCHANGE

The proposal calls for the establishment of a trading platform for grain and other major commodities, with an associated pricing agency that will provide price data and market analytics. Currently, international prices for major commodities are set on Western bourses.

COOPERATION ON CREDIT RATINGS

Better communication and experience-sharing between the member countries' credit rating agencies, with the use of artificial intelligence to help eliminate human bias. This measure would shield BRICS markets from a pullout by Western credit rating agencies.

USA
Source: www.usip.org

Leaders from Brazil, Russia, India, China and South Africa (BRICS) will gather in Kazan, Russia, next week for the group’s annual summit, along with an expanded roster of members. This is the first BRICS summit since Egypt, Ethiopia, Iran, Saudi Arabia and the UAE joined earlier this year. Russia, which holds the BRICS presidency this year, has also invited over two dozen other countries, which have expressed interest in joining the group, for the first “BRICS+” summit. For President Vladimir Putin, hosting this summit is an opportunity to show that Western efforts to isolate Moscow for its illegal war on Ukraine have not been successful and that Russia has friends around the globe.

BRICS leaders Russia and China aim to construct an alternative to Western-led security and financial architectures and see expanding the group as an important step to that end. USIP’s Adam Gallagher and Andrew Cheatham explain why so many countries want to join the group, how BRICS expansion intersects with other global trends and what it means for the United States.

What’s behind so many countries’ interest in joining BRICS?

Gallagher: Over 30 countries have either formally applied or expressed interest in joining BRICS. These include Southeast Asian states Thailand, Malaysia and Vietnam; NATO member Turkey; major oil and gas producers like Algeria; the world’s biggest Muslim country, Indonesia; Nigeria, which has the largest population in Africa; and the world’s eighth most populous country, Bangladesh.

There are clear economic benefits to joining this burgeoning group of emerging economies. The 10 countries that now make up BRICS represent 45 percent of the world's population, 28 percent of the world's economic output and 47 percent of global crude oil.

Intra-BRICS trade is one area that the group has found its footing. A joint statement coming out of the June 2024 BRICS foreign minister’s meeting encouraged “enhanced use of local currencies in trade and financial transactions” among BRICS members. This was a trend that was already on the upswing between 2017-2022, with a 56 percent increase in intra-BRICS trade in that timeframe. Western sanctions on Russia led to a further surge.

“Trade in goods among BRICS economies has considerably outpaced trade between the BRICS and G7 nations, leading to greater intra-BRICS trade intensity,” notes a report from the Boston Consulting Group. Those interested in joining BRICS believe membership will lead to increased trade and investment.

Western sanctions and the U.S. dollar’s status as the global reserve currency are also part of the story. The dollar’s dominance as a reserve currency and in trade for commodities like oil gives Washington immense influence over the global financial system. Countries impacted by U.S. sanctions and export controls — like BRICS leaders Russia and China, new members like Iran and wannabes like Venezuela — want to weaken the dollar’s power in order to evade sanctions and tamp down U.S. influence.

Unsurprisingly, China has been at the forefront of this de-dollarization effort. China’s renminbi has overtaken the U.S. dollar as the primary currency for Chinese-Russian trade and Beijing is coordinating with several major Middle East oil producers to ramp up the use of yuan to settle oil transactions. Using local currencies for intra-BRICS trade, however, is often viewed as an interim step to a loftier goal: a common BRICS currency. For now, most analysts see this effort as either unfeasible or a distant prospect. At this year’s summit, Russia is expected to propose new measures for an “alternative payment system” that would further sidestep the U.S. dollar.

For China and Russia, attenuating U.S. influence over the global financial system is part and parcel with building an alternative to the broader U.S.-led international order. It’s no surprise that U.S. adversaries like Russia and China want an alternative international system.

But many Global South countries also believe the current order disadvantages their interests and privileges wealthy Western countries’. They saw inequities in the COVID response, and believed rich countries hoarded lifesaving vaccines. Global South countries have also accused the U.S. of hypocrisy over its positions on the wars in Ukraine and Gaza and suggest that the West only applies international law and norms when it suites their interests, rendering the need for what they perceive as a more fair international order.

While dissatisfaction with the current international order is the dominant narrative surrounding BRICS expansion, there are other prospective members, like Malaysia, and current members, like India, that want to maintain balanced relations across the globe and are looking to cement their strategic autonomy. For these countries, it’s not about taking sides. Some countries also believe BRICS membership will give them a greater voice and representation in international politics. It’s not all about anti-Western ideology.

How is BRICS intersecting with global trends?

Cheatham: The BRICS summit comes at a pivotal moment as the United States sees its decades-long dominating share of global leadership on the decline. The world is experiencing a significant paradigm shift in the distribution of global power, which will have extensive consequences for international peace and security.

Amid Russian revanchism and a rising China, terms like "great power competition" or “the new Cold War” are often used to describe the current global dynamic. Yet, this framing is increasingly inadequate. The rise of middle powers is reshaping global politics. We are witnessing not just the rise of a few challengers to the U.S. and its Western allies, but a broader "rise of the rest."

Multipolarity is the first trend that must be considered when thinking about BRICS’ growing relevance. From the perspective of leaders across the Global South, multipolarity offers the most secure means of limiting hegemony, which, if unchecked, poses a threat to their vision for international norms and global security. In this multipolar world, the majority of states will work to encourage fluid alignments and discrete partnerships to help ensure power remains diffuse. For now, this trend signals a period of upheaval in the current world order, with uncertain outcomes as to how the balance of power will ultimately settle.

A stable and peaceful multipolar world will require a functioning multilateral system that is fit to tackle the unique challenges of the 21st century. Unfortunately, we are seeing another trend of an increasingly dysfunctional and inept multilateral institutions, centered around the United Nations system. The U.N. Security Council, a relic of the post-World War II power structure, no longer reflects contemporary global dynamics. Calls for reform, while progressing, go largely unheeded as the great powers cling to their vetoes.

Meanwhile, peacekeeping missions are underfunded and politically stalled, leaving conflict-affected countries mired in violence, lawlessness and human suffering. The international development system is similarly broken, with many countries trapped in debt crises and unable to leap into the digital and green economies. Peacemaking and U.N. mediation efforts have also floundered, with protracted conflicts persisting. Accountability for war crimes has similarly eroded since the lofty visions of the 1990s and the creation of International Criminal Court in 2002. Humanitarian systems are overwhelmed and underfunded, as aid workers face increasing violence and insecurity.

Finally, the rise of authoritarianism and the resurgence of "civilization states" — which prioritize civilizational identity over Western political norms, favoring sovereignty and cultural continuity over international rules — reflect a global shift toward centralized governance that undermines adherence to Western notions of the rule of law.

Much has been written of the democracies in decline and the rise of authoritarianism. The World Justice Project’s 2023 Rule of Law Index shows that more than 6 billion people live in countries where the rule of law is declining. However, this data should be considered alongside the rise of civilization states like China.

Other BRICS countries like Russia, Egypt, Ethiopia and Iran embody the concept of civilization states by emphasizing cultural and historical legacies over modern political models. One constant throughout the history of ancient civilizations was the dominance of rulers over subjugated populations, with little regard for the rule of law as we understand it today. At the “international” level, civilizations like this harken back to an era when territorial conquest was the norm. Russia's war of aggression in Ukraine is a stark reminder of this.

The resurgence of civilization states and authoritarianism contributes to a further breakdown in the rule of law at both national and international levels, where norms that should transcend individual leaders are increasingly eroded. This revival should be particularly alarming, as it signals not only a retreat from democratic values but also a weakening of global legal structures that maintain peace and accountability.

The trends discussed in this year’s BRICS meeting highlight a world grappling with the rise of multipolarity, declining multilateral institutions and the growing dominance of authoritarian civilization states, signaling a profound shift away from the democratic and legal norms that have long underpinned the international order.

What does this mean for the U.S.?

Gallagher: Washington should take these trends and developments seriously, but without alarmism. An expanded BRICS could be a more formidable player on the international scene — or it could paralyze the group’s decision making, as more countries with their own interests push their own agendas. While de-dollarization would reduce U.S. influence, a BRICS currency or any other alternative is unlikely to emerge anytime soon, even as trends point to diminishing reliance on the dollar.

An expanded BRICS could be a more formidable player on the international scene — or it could paralyze the group’s decision making, as more countries with their own interests push their own agendas.

Outside of Russia and China, many of the BRICS+ countries want good relations with the U.S. and the West, too. Saudi Arabia, for example, has been negotiating a deal with the U.S. to receive security guarantees from Washington in exchange for normalizing relations with Israel. India, a founding BRICS member, has dramatically deepened its security ties with the U.S. in recent years. Vietnam and the United States inked a comprehensive strategic partnership deal last year.
Still, BRICS is emerging as an alternative to Western geopolitical dominance and a powerful voice for Global South countries. At a time of immense flux and change in global politics, the U.S. should take stock of what’s driving states’ interests in alternatives to the international order it has led since the end of World War II. The world has seen an alarming rise in conflict in recent years. Multilateral institutions that were constructed decades ago have shown they are unable to adequately address this trend. A new multipolar era requires a revamped multilateral system to tackle today’s thorniest challenges, from war and climate change to pandemics and disruptive technologies like AI.

There is widespread agreement that such reform is needed. At this year’s U.N. General Assembly, the U.S. expressed its support for Security Council reform, including the addition of two permanent seats for African countries. Taking seriously Global South countries’ concerns over their lack of voice and representation at the head of the international table is a good start.

Russia
Source: en.kremlin.ru

Vladimir Putin answered questions from the heads of leading BRICS media agencies. The meeting was held ahead of the BRICS summit in Kazan.

The meeting was attended by the heads of media agencies from Brazil, China, Egypt, Ethiopia, India, Saudi Arabia, South Africa, and the UAE. It was moderated by Head of the Rossiya Segodnya Media Group Dmitry Kiselev.

* * *

President of Russia Vladimir Putin: Colleagues, gentlemen, friends,

I am very glad to see you. Our group is expanding; we have made more friends within BRICS, and there is significant interest in its activities. Both my colleagues and I have said this many times. Of course, this interest is also growing thanks to your work, support and coverage of what we do together with our colleagues and friends, the heads of BRICS countries.

The summit will begin soon. Ahead of it, we will host the President of the United Arab Emirates for a visit the day after tomorrow. We have an informal dinner scheduled for Sunday here, followed by the visit on Monday. On Tuesday, we will commence our work in Kazan.

We have a very busy agenda planned. A great deal has happened over the year of Russia’s BRICS chairmanship, which I believe will be of interest to you. I will be happy to discuss this briefly. Please forgive me, but I will not go into detail, as it is impossible to retain all the information in mind at all times due to the diverse and comprehensive nature of our cooperation. We collaborate in all areas, and I think you will be interested in talking with specialists on each of them.

I hope that you, your colleagues or your teams will have the opportunity to speak with professionals, including during the summit in Kazan.

Perhaps that is all I wanted to say at the beginning. I will now give the floor to you, so as not to take up more of your time. I will do my best to answer your questions as fully as I can on every aspect of our conversation today.

Go ahead, please.

Dmitry Kiselev: Mr President, we are very grateful to you for finding the time in your insanely intense schedule to meet with us.

This intensity is evidenced by the fact that in four days in Kazan, you will not only take part in the summit and have a big news conference, but also hold over two dozen bilateral meetings. You are absolutely right that it is difficult to wrap one’s mind around it.

Vladimir Putin: Seventeen.

Dmitry Kiselev: Seventeen, right – about two dozen bilateral meetings.

The meeting we are holding now is crucial not just to us personally, but to the entire planet, because the media represented here have a total audience of several billion people. We will get across your answers to our questions to our viewers, listeners, and readers.

I would like to ask the first question. Perhaps it will be somewhat general. The world is changing so rapidly that sometimes we cannot keep track of how different is has become. What are the signs of these changes and what opportunities do they open for BRICS?

Vladimir Putin: The most important sign is the emergence of new development centres. This is the most important sign. According to experts, whom I trust and whose opinions I heed, this development will be focused primarily in BRICS countries. This is the Global South, Southeast Asia and Africa.

Powerhouses like China and India will record positive growth. Positive growth will also be in Russia and Saudi Arabia. But countries of Southeast Asia and Africa will demonstrate outstripping growth rates, and for several reasons.

First, the development level in those countries, where positive but limited dynamics is expected, indicates that those countries have already reached a certain level of development. Second, those countries that I have mentioned, that will have outstripping growth rate, still have an insufficient level of urbanisation and a high rate of population growth. Without doubt, these two factors will influence the formation of new centres of economic growth to be followed by enhancing political influence.

Regarding BRICS countries like China, India, Brazil and South Africa, it is evident that their expanding economic potential will lead to their bigger global influence. This is an undeniable fact and it simply reflects objective reality.

As my colleagues, partners and friends have often noted, BRICS represents 45 percent of the world’s population, covers 33 percent of the Earth’s land area, and has a continuous growth in trade and global commerce.

I recently spoke with the BRICS Business Council and entrepreneurs from our nations, sharing the figures I have previously mentioned. When comparing 1992 to 2023, the combined growth of the BRICS countries’ share in the global GDP has doubled, while the growth of the G7 countries has slowed down. By this measure, the BRICS nations have already surpassed the G7. Moreover, it is evident that by 2028, this trend will continue, with the gap favouring the BRICS countries only widening. This is a clear and undeniable fact.

In certain sectors, humanity’s existence is impossible without the BRICS countries, particularly in food and energy markets and so on. However, in high-tech fields, especially in the development and application of artificial intelligence, we are not only acquiring competencies but also emerging as leaders in certain areas. This represents a significant shift, one of the most important and noticeable changes in today’s world.

This is a natural occurrence, and there is nothing wrong with it. The world is always evolving, and new leaders continuously emerge. We should accept this calmly as a reality and focus on building our relationships with one another accordingly.

What sets BRICS apart from many other international organisations? BRICS was never meant to be
created in opposition to anyone. The Prime Minister of India put it best. He said BRICS is not an anti-Western alliance; it is simply non-Western. This distinction is very important and has great meaning. That is, BRICS does not set itself in opposition to anyone. It is a group of countries that work together, guided by shared values, a common vision for development, and, most importantly, by the consideration of each other’s interests. This is the foundation on which we will be working in Kazan.

Dmitry Kiselev: Thank you, Mr President.

It is true that BRICS countries make up 45 percent of the planet’s population, but even if BRCIS does not make the global majority, then it definitely represents it, because many countries that are not part of BRICS wish this group success and share its values.

I am very happy to present Mr Fan Yun, my colleague from China, who is the editor-in-chief at CGTN and deputy editor-in-chief of China Media Group, deputy of Mr Shen Haixiong. We are giving him the floor first in view of your personal relationship with President Xi Jinping and special relations between Russia and China. Afterwards, we will move clockwise.

Please, Mr Fan Yun.

Deputy Editor-in-Chief of China Media Group, CGTN Director and Editor-in-Chief Fan Yun (retranslated): Mr President,

I am very glad to represent Chinese media at this meeting.

The BRICS summit in Kazan is the first one after the group’s expansion, so we are paying special attention to it. How do you think BRICS countries’ growing role and BRICS expansion will help promote its influence?

You have already mentioned that the group overall accounts for over 33 percent of the global GDP. What contribution will this make to the development of the entire world?

Vladimir Putin: Now BRICS includes ten countries. Each of them is of interest and value to the world community and, of course, to such group as BRICS. Each of these countries has its unique culture, its unique history, its own advantages in the global division of labour, and interaction with these countries is of interest to all BRICS participants.
Of course, when new players, new participants – full-fledged participants – appear and join any international organisation, they make their own contribution. And here it is very important for them to respect the principles on which BRICS was created, and it was created by three countries. The first step was made by Russia, India, and China, we did it together. At that time we created RIC in St Petersburg, Russia, India, and China. Later, it started to expand. On the other hand, however, all countries in the group should also respect the new participants’ interests.

This year, we have done everything within Russia’s capacity to smoothly and gradually integrate all our new members into the group’s activities. In fact, we have 250 events planned across various sectors, with 200 of them already completed.

The decision to accept new countries was no coincidence. These are countries and people we know well, with whom we have collaborated in various fields over a long period. Now that we are working together within a single group, we have created platforms for exchanging ideas and exploring potential joint projects across a range of sectors. While economic cooperation is our primary focus, we are also placing significant emphasis on developing people-to-people and humanitarian ties in such areas as culture, cinema, youth exchanges, and more.

We have been working hard on these tracks throughout the year, and the results show we are on the right path. It is clear that expanding the group was a positive and right decision. I am fully convinced that this will undoubtedly boost our influence and authority on the global stage, something we are already witnessing.

You know that each new country brings its close allies along in various areas. When a country joins the group, its partner nations naturally take an interest in what is happening and often express a desire to collaborate as well.
As I have mentioned many times before, around 30 countries have expressed interest in cooperating with BRICS in some form or participating in its activities. This is a clear and visible impact of our recent expansion. In fact, another wave of interest is already building on the heels of this one. However, we need to carefully consider, alongside all BRICS countries, how best to approach further expansion.

One thing is certain: we will not turn anyone away. The doors are wide open. The question now is how to structure this process, and my colleagues and I, along with our friends, will discuss all these matters when we meet in Kazan.
Dmitry Kiselev: And here you have the voice of the global majority.

I’m pleased to pass the floor to my colleague from Sky News Arabia. Nadim Koteich, one of the most renowned journalists in the Arab world, the author and host of the weekly show Tonight with Nadim. So, we are true colleagues in that sense.

Nadim, please go ahead with your question.

General Manager of Sky News Arabia (UAE) Nadim Koteich (retranslated): Mr President, thank you so much for the opportunity to meet with you. We are thrilled to have you with us.

I represent Sky News Arabia, and before I begin, I want to acknowledge the excellent work your team has done in organising this meeting. We truly appreciate the chance to have an open conversation with you, even though we don’t speak Russian.

I want to clarify that we didn’t discuss specific topics beforehand, and I want everyone to understand and be aware of this. We value this transparency.

Mr President, you have mentioned many times that the world order needs reshaping, which is undoubtedly a challenging task. We recognise the significant influence that China and the United States have in this process. How does Russia perceive its role in this reshaping? Does Russia, in any way, feel like a junior partner in light of the ongoing dynamics between China and the United States?

Vladimir Putin: It is true that we have a unique relationship with China, built on a deep level of trust. Our trade and economic ties are expanding rapidly. According to our data, trade turnover is between US$226 and US$228 billion, while Chinese statistics estimate it at around US$240 billion. These figures speak for themselves.

I have mentioned this many times before, yet I would like to stress again, that Russian-Chinese cooperation on the global stage is undoubtedly one of the key pillars of strategic stability worldwide. This is a fact that I believe is clear to everyone and is widely acknowledged.

Our relationship with the People’s Republic of China is based on equality and mutual respect for each other’s interests. This is not just an empty phrase, it reflects the reality of our cooperation. We genuinely listen to one another. Some five to seven years ago, the Chinese leadership, at both the government and top political levels, and I, along with my friend, President Xi Jinping, often discussed the need to improve the trade balance. We talked about finding ways to increase the presence of Russian products, both industrial and agricultural, on China’s market. Similarly, China had its own requests, particularly in the areas of energy, space cooperation, and other sectors.

We are actively addressing these issues and truly hear each other. If you examine the current trade balance structure, you will find answers to all these questions. Our focus is not just on discussions; we take action. There are no hierarchies between us, we collaborate based on mutual interests, and that approach is effective. That is the first point.
Now, regarding the relations between China and the United States. We do not interfere in these issues, just like we do not interfere in relations (we have colleagues here who will instantly figure out what I am referring to) between Ethiopia and, let’s say, Egypt. Do you understand what I am talking about? We do not interfere, do you see it? If there are any issues arising and if a minute thing depends on us, we are ready to offer our services in resolving these issues, if they arise and the participants in the corresponding process are interested in any involvement from our side.

The world’s biggest economy in terms of purchasing power parity rather than per capita is China. This is all statistics, you see? The United States of America is second. But, in terms of per capita values, the US economy is much bigger. Just look at the population: 1.5 billion or 1.3 billion in China against the population of the United States. The economy volume increased.

The United States holds the second place, India is third, and, incidentally speaking, the Russian Federation is fourth, we managed to overtake Japan a little bit. China is our number one trade and economic partner. Russia’s share is growing, and currently Russia’s share is the fourth in China’s trade turnover, this matters to everyone.

We very carefully measure our every step. Chinese partners are happy to purchase Russian energy resources. Russia is the most reliable source. We have a common border which is not prone to any fluctuations in terms of world politics. By the way, there is no need to transfer anything across borders, over seas or oceans: the entire border is common, period, and energy resources in Russia are infinite.

If you look at the relations between China and the United States, you know, I think the United States needs to start thinking. It ruined relations with Russia, constantly impose sanctions and this, eventually, negatively affects the US and the US dollar. The whole world started contemplating whether US dollars should be used since the United States, for political reasons, restricts the use of the US dollar as a universal international payment unit. Everyone started considering this, and the volume of US dollar use is slowly, in small increments dropping both in settlements and currency reserves. Even traditional allies of the United States are reducing their US dollar reserves.

And what is happening to China? It faces one sanction after another. This is not purely political; it is about the growth of the Chinese economy and attempts to hinder that growth through various politically motivated sanctions.
Here’s what I would like to note. The United States is 15 years too late, they cannot stop China’s progress. It is impossible, just as it is impossible to tell the sun not to rise. It will rise anyway. These are objective processes of economic development, with a million related factors. This effort to contain China’s development negatively affects the US economy as well. It renders the production of some of their goods uncompetitive, and if this trend persists, it could render certain sectors of their economy totally uncompetitive.

This illustrates how the economies of China and the United States have become interconnected over the past few decades, a fact that everyone admits. However, the actions we are witnessing today from the United States appear to be counterproductive, I believe.

This is also related to security policy, particularly the ongoing provocations surrounding Taiwan. I often find myself questioning the motives behind these provocative actions in various regions of the world. Why are they happening? I truly do not understand. In fact, NATO is drawing European nations into Asia through itself. No one seems to consider whether Europeans want to jeopardise their relationship with China by getting involved in Asian affairs through NATO, creating a situation that raises concerns among regional countries, including China. I can assure you that they do not want this. Yet, they are being pulled into this, like small dogs on a leash pulled by a big fellow. Their allies — Japan, Australia, and New Zealand — are nudged into action, tension is growing as serious weaponry is deployed which poses threats to the countries in the region, including China and Russia.

We are closely monitoring this situation. Naturally, we do not interfere, just like in other issues, such as those between Ethiopia and Egypt. However, we firmly consider China to be our strategic partner and ally.

Dmitry Kiselev: Thank you.

The advantage of BRICS is that there are no seniors or juniors in it, and nobody interferes in other countries’ affairs. It is really a very important stance and an important sentiment inside the group.

Mr President, I would like to introduce Faisal Abbas, world-famous columnist on international politics, international Arab politics, who represents the Arab News newspaper.

Please, go ahead, Faisal.

Editor-in-Chief of Arab News (Saudi Arabia) Faisal Abbas (retranslated): Your Excellency, Mr President,
Let me thank you for the opportunity to talk to you about various problems on the international arena which matter a lot.

Here is my question. As you know, Saudi Arabia has been invited to BRICS, and the Foreign Minister will attend the summit in Kazan. As you know, Mr President, the Crown Prince has been busy with settling issues in the Middle East and resolving the two-state problem in Palestine since last October. Moscow has always supported this solution, a two-state solution.

Will the UN Secretary-General attend the BRICS summit? What results can we expect to make it possible to put pressure and stop the bloodshed that is going on in the Middle East, considering that all the BRICS countries agree on the need to implement a two-state solution to the Palestinian problem?

Dmitry Kiselev: Faisal Abbas represents Saudi Arabia.

Vladimir Putin: I understand.

When you were speaking about ceasefire right now, did you mean the Gaza Strip? Did I hear that right?

Faisal Abbas: Yes.

Vladimir Putin: Our position on this is known well. I can hardly add anything new. We have always proceeded from the fact that the Security Council resolution on the creation of two states – Israel and the State of Palestine – must be implemented. This is the root of all the problems, and I am sure that we will have to talk about this at the BRICS summit. I invited the President of Palestine to join our events, and there will be an opportunity to listen to his assessments.

You know, I have had a lot of conversations on this subject with the Israeli leadership, the Saudi Arabian leadership and the Palestinian leadership. I believe it is impossible, just like I told our partners in Israel, to resolve the Palestinian issue based exclusively on economy-related issues. I know that the Israeli leadership – both its current and former leaders – believe it is enough to satisfy some fundamental, basic interests of Palestinians living on these territories, and the issue will be closed.

It seems to me that apart from some material issues, there are issues connected with a spiritual sphere, history, aspirations of peoples living on specific territories. The issue is deeper and more complicated, and work needs to be done in this sphere. This is first.

Second. The work definitely needs to be done within a broad consensus. I do not want to blame the United States for everything but it should not have destroyed the [Middle East] Quartet. I really do not want to point a finger at it all the time and repeat that they are guilty of all woes. This is probably not so. But they should not have destroyed the Quartet, it worked, it was easier to agree on all positions. But the US monopolised the work, took all the responsibility and eventually failed.

I believe we need to get back to it. Maybe expand the Quartet, talk about recovering the territories and bringing back the people who fled them. The Palestinians will not leave the area, it is their land, this needs to be understood. This is first.

Second. The bigger the humanitarian issue is the more there will be of those willing to assert their interests. Incidentally, many people in Israel understand this, too, and share the point of view I am expressing.

I have been in a position to obtain information from people in Israel who hold this view. We are in touch with both Israel and Palestine, of course. We have had a traditional position since the Soviet Union, which states, let me reiterate this, that the main way to resolve the Palestinian issue is to create a full-fledged Palestinian state.

Dmitry Kiselev: Thank you very much.

Chairman of the Sekunjalo Investment Holdings Iqbal Survé is one of the most influential African leaders. His group of companies includes Independent Media and the African News Agency.

Dr Iqbal Survé worked with President Mandela and is a firm advocate of BRICS.

Please, go ahead, Iqbal, South Africa.

Executive Chairman of Independent Media Holding (RSA) Iqbal Survé: Your Excellency, Mr President,
Firstly, congratulations on the summit. And it is really a pleasure and honour that we are here today.

Mr President, you are one of the pioneers of BRICS. As you have quite correctly said, you have been there from the inception, and you have also seen the development of BRICS from the initial RIC to BRICS to include South Africa and now the additional countries.

Mr President, I have had the pleasure of being the Chairman of the BRICS Business Council and also the privilege of having met you previously during those engagements. I am a strong advocate for BRICS myself, but I get the sense that we have moved too slowly. I get the sense that, in a way, we may miss the valuable opportunity to ensure that the BRICS grouping becomes the preeminent grouping in the world. BRICS is very critical at this juncture in terms of where we find ourselves in world history. It is very important for the Global South, or for what Mr Kiselev has said is the Global Majority, and I think Russia has a very important role to play and, in particular, yourself, Mr President.
My question is very specifically to you. How can you and Russia hosting BIRCS accelerate the mechanisms for BRICS to play a far more important role: one, economically; two, in payment systems; and three, which I think is important, politically as well.

Thank you, Mr President.

Vladimir Putin: As for the political order, your Egyptian colleague [has asked about this], I sidestepped it but since you revisited it, so I will get back to the first part of his question, too. He said that I, or we, are declaring and striving to change the world order. We are not, in fact. It is happening naturally. We are simply saying that this is an inevitable process, and we must respond to it accordingly.

These new emerging centres of power are not emerging because the Western countries brought upon us the Ukrainian crisis, and all of this came to the current state. Let me remind you once again: back in 2014, the Western countries led by the US organised, or at least supported, a coup d’etat. This is what sparked the crisis. Then, NATO has been pushed into it for many years. This is how the crisis began. And the war began in 2014, too, because they launched armed actions involving armed forces against people who didn’t accept the coup. So the war broke out in 2014.

However, changes in the world started even earlier, and on a larger scale. This is what we call the emergence of a multipolar world. We just proceed from the fact that this is happening, and we are trying to facilitate this process in a way that would not lead to destruction, but, on the contrary, let things take shape in a new expanding format.
You say that we should act more decisively, but how? We believe, any rush would be inappropriate. We are proceeding incrementally, step by step.

As for finance, say, we did not decide to stop using the US dollar as universal currency, we were denied using it. Now, 95 percent of Russia’s foreign trade with its partners is being carried out in national currencies. You see, they did it themselves. So be it. They thought everything would collapse. No, it did not. Trade is developing on a new foundation.
Ninety-five percent of our trade with China is in ruble and yuan. We also use the yuan in settlements with third countries, which helps strengthen the yuan as an international currency. It is not because China wants to harm anyone, no; it does nothing bad to anyone, but it is the way it is.

This is the first point: settlements in national currencies.

We have established the Bank headed by Ms Rousseff. A lot of work needs to be done there: we need to work on the capital, increase it, I will not list everything. We met with Ms Rousseff several times, she is a good specialist, she understands everything. We need to discuss how to create a corresponding insurance platform, a reserve currency pool. All of these needs to be steadily strengthened to make them real working tools rather than declarations. This is happening.

We would like to propose some really serious things to our colleagues – I will not go into details at this point. There is a serious issue of using digital currencies in investment processes, and not only in BRICS countries but by BRICS countries in the interests of other developing economies which have good development prospects, what I have already mentioned.

We can actually create such a tool which will practically be non-inflationary, it will be controlled by corresponding BRICS institutions. This might be another very interesting, good step in the development of the Global South with our direct active participation. We will talk about this now. Well, not now, I will discuss this with my colleagues.

We are holding consultations with Chinese friends and Indian friends, have had consultations with Brazilians recently, and we will definitely have a talk with South Africa. We will be doing this with everyone, just like we are doing now. We are moving, gradually.

But I believe this is not enough. We need to bring people closer together to work efficiently in the economy. All of our so-called traditional values of the Chinese culture, Christian culture, Islamic culture are, in fact, the same if read and translated from one language into another. They are very close or fully coincide, as diplomats say.

People need to realise and understand this. There are no enemies, only friends and like-minded people. And this is why we are developing a corresponding programme regarding museums and theatres. This year Russia initiated the creation of a single platform even in folk dance art, as well as in cinematography, theatre, and exhibition activity. All of this creates – must create and, I am sure, will create – a colossal, solid base to bring people closer together.
We constantly hold respective themed years with colleagues: the Year of Culture, the Year of Youth Exchanges, the Year of Theatre and so on and so forth. This also draws people closer, creates numerous contacts, increases opportunities. Most importantly, it increases trust in each other. It increases trust and this is a necessary basis for cooperation in the economy and ensuring security.

This is why we will not rush, but we will move, move as fast as we can. We cannot set off this tempo, I also agree with it, you are right.

Dmitry Kiselev: Thank you.

In fact, it is about forming a common cultural BRICS market that would also promote cooperation in economic security.
Next is our Indian guest, Mr President. This is an influential news agency, PTI. Sudhakar Nair has been with PTI for 45 years, rising from a correspondent to an executive editor, he worked in Germany and in the prime minister’s pool.
Please, go ahead, Sudhakar.

Executive Editor of PTI (India) Sudhakar Nair: Thank you, Mr President.

This is my sixth visit to Moscow as part of the coverage of leaders of India and Russia for a period of time.

So, my question relates to a point where you made a passing reference on the question of BRICS countries cooperating together in producing films. As you know, India has a very vibrant film industry. People of 30 years back, 40 years back, still remember some of the Indian films and songs.

Will Russia give an opportunity to film producers from the BRICS countries to open their place and give some incentives for film shooting?

Vladimir Putin: You know, if we take BRICS countries, then perhaps Indian films are as popular in Russia as nowhere else, in no other BRICS country. I think there is even a special television channel that shows Indian films day and night. So, Russia is very interested in the Indian cinema. This my first point.

Second, at Moscow film festivals… Yes, we hold BRICS film festivals. This year, films from almost all BRICS countries have been presented at the Moscow Film Festival. I think the winner was a film by Saudi Arabian and Egyptian directors. There also was a third country, but I don’t remember, I think it was Jordan. Saudi Arabia, Egypt, and Jordan. A film shot by directors from these three countries was the winner.

As for the economic aspect, cinema products are products like everything else. It is a part of the market that must be regulated accordingly. India has adopted a number of decisions to protect its domestic market, not just in terms of cinema, but also for automobiles and other areas. But I believe that if our Indian friends are interested in this, then we will undoubtedly find a common ground to promote Indian film products on the Russian market.

I can say that this product is in high demand on the market in the broad sense of the word, at least in Russia. I think it will be a good business, like Indian pharmaceutics. I will be ready to discuss this with our friend, Prime Minister of India [Narendra Modi], when he arrives in Kazan, if he raises the issue. We are confident we will find a common ground. That’s for sure. I see no problems here.

Dmitry Kiselev: Thank you, Mr President.

Of course, we would like to see not only Indian films, but films starring actors from BRICS countries who represent their diverse cultures.

Vladimir Putin: Raj Kapoor.

(Laughter.)

Dmitry Kiselev: Yes, but let there be an Indian, a Chinese, an Ethiopian, and so on.

Vladimir Putin: You know, I talked with my colleagues, leaders of the BRICS countries, about organising festivals of theatrical art, and it is currently being held. I think we have created a joint academy of cinematography. We will definitely continue on this path.

We discussed the need to create a pop music festival and so on. There is a lot work to be done here. This work is very interesting. Of course, journalists will also be interested in covering this work and taking part in it.

Dmitry Kiselev: Yes.

In the Soviet Union, there were films like Mimino. Natives of the Caucasus, Russians or Ukrainians played parts in war films as actors representing different or close cultures. This is also an interesting style.

A guest from Ethiopia, the CEO of FANA Broadcasting Corporate. This is a major Ethiopian media corporation broadcasting in nine languages.

Admasu Damtew Belete, please.

CEO of FANA Broadcasting Corporate (Ethiopia) Admasu Damtew Belete: Your Excellency, Mr President, I thank you for the chance.

My question is, how to capitalise on a collaborative project that could benefit BRICS+ countries focusing on infrastructure, technology, and education?

I thank you.

Vladimir Putin: Which sphere, I beg your pardon?

Admasu Belete: My question is, how to capitalise on a collaborative project that could benefit BRICS+ countries focusing on infrastructure, technology, and education?

Vladimir Putin: As far as education is concerned, let’s start with it. We traditionally have very good and positive connections and very good experience in training personnel for Africa. We have had this practice for decades, since the Soviet Union.

Thousands of people from Africa got education in Russia, many of them have held very different posts in their countries after getting education in Russia, which is very pleasing for us. As we have witnessed such pictures at the last Russia–Africa summit in St Petersburg which, I believe, made millions of Russian citizens happy, since our media, television and the internet showed how today’s state officials from some African countries sang Russian songs in fairly good Russian. This is definitely a very powerful cooperation potential – education obtained in a foreign country in a foreign language, especially in the host country’s language. We are continuing this practice – I am afraid to cite wrong number – but practically with many African countries if not all of them. This also concerns Ethiopia.

The second question, or the second part of your question – you asked it first – is no less important: infrastructure. We have a lot of projects in this sphere, infrastructure development. The most well-known projects are important and of global nature – this is the North-South project known to many interested colleagues. This is a main railway line from the Baltic Sea and to the Persian Gulf. We are doing this with many of our partners which show interest and are ready to participate in financing this project, among other things.

The second very large route is the Northern Sea Route along the Arctic Ocean. A lot of work is being done there. This is a global route, and many BRICS countries show interest in it because it will give major economic benefits when implemented – and we are implementing it. We are doing very much, this is practical work.

We are building an ice-breaking fleet which is similar to none. Such a nuclear ice-breaking fleet simply does not exist anywhere in the world except for Russia. I believe we have seven nuclear ice-breakers and 34 diesel ice-breakers of a very high class which are powerful and up-to-date.

The ice-breaker Leader, as we call it, is under construction, it will break ice of any thickness, absolutely any ice, and it will operate all year round. As a matter of fact, they escort ships, I think, up to nine months a year, therefore this is a very interesting and big project.

As for Ethiopia, we have traditionally deep relations, very good spiritual, humanitarian connections, and many of our companies show interest in working on the Ethiopian market. These are utility and engineering companies. And I would like all of the plans which we have discussed with the Prime Minister to be implemented. On our part, we will be doing everything for this.

Dmitry Kiselev: We will be breaking ice of any thickness.

Vladimir Putin: Well, it might not be that interesting for Ethiopia as of now. But for such countries as India, China, very many countries in other regions of the world, this represents a huge economic interest. And this is why we are discussing this as part of BRICS and bilaterally, and we are ready for such work with our BRICS partners.

Dmitry Kiselev: Egypt’s leading news agency, MENA, Salaheldin Magauri.

Please, go ahead.

Deputy Editor-in-Chief of MENA news agency (Egypt) Salaheldin Magauri (retranslated): Mr President, my name is Salaheldin Magauri. I represent MENA news agency from Egypt. Thank you very much for inviting me to this meeting.
We, of course, know that the Russian Federation holds a fair position on many issues of the agenda and takes everyone’ interests into account. Russia is aspiring for cooperation rather than interference in others’ affairs. In particular, as part of BRICS, we see that Russia supports aspirations of different countries which want to join it.
We understand that the summit is taking place in a turbulent time amidst many challenges and threats which we see at the global level. I would like to hear your vision of future cooperation between BRICS member states and modalities of the group’s expansion, in particular, the economy.

A common BRICS currency, which could facilitate the development of economic cooperation and strengthen national currencies, among other things, is especially intriguing.

What are the long-term steps in this regard?

Vladimir Putin: As for the BRICS common currency, we are not considering this issue. Its time has not come yet. We need to be very careful and act gradually, without any rush.

We currently study the possibilities to make wider use of national currencies and create tools which would allow making such work safe. Just as I mentioned it, we are examining the possibility of using electronic tools. We need – and this work is being done – to smooth things out between central banks and ensure reliable exchange of financial information which would not depend on those international financial information exchange tools which impose specific restrictions for political reasons and violate the global economy principles. We will be expanding the work of the currency pool and strengthening the New Development Bank. We will be moving in these directions.
To speak about the creation of a common currency, the economies must be highly integrated. And apart from high integration of the economies, they must be equal in quality and volume. But equal volume is impossible, I mean the population and the economies themselves. However, the economies must be roughly equivalent in terms of structure and efficiency. Otherwise we will face bigger problems than the problems which arose in the European Union when the common currency was introduced in countries who had an incomparable level of the economies, they were not equivalent. This is why it is a long-term prospect, but potentially this could happen, we will be able to talk about this in future.

Regarding expansion, the latest wave of BRICS expansion is over; obviously, it is only natural that our colleagues present here have asked questions as to what steps we are taking to get new group members adapted to joint activities. These efforts also require a certain amount of time, even given that we have worked and interacted with each other for a while. We still need to work on this as a single structure.

As I have mentioned, we see a growing interest in BRICS activities and involvement in them, with 30 states indicating their willingness to cooperate with the group. So, jointly with our colleagues – and I am going to dwell on it with our friends, leaders of BRICS states, in Kazan – we are developing such category as BRICS partner countries, the initial step being the efforts to organise this work. For Russia, these primarily include the CIS and the Eurasian Economic Union member states, but we are willing to invite countries representing other regions and work with them as well. This is the first thing.

Second, we obviously need consensus, and we will act carefully in this regard based on two principles: multilateralism and efficiency of the association’s work. While increasing the number of BRICS states, we should avoid reducing the effectiveness of the structure to a minimum. Therefore, we will act by following these considerations.
What was the first question? There are two. Is that all or is there something else you asked about? Expansion and a single currency?

Dmitry Kiselev: Yes, it was also about prospects. There is one clarification though, Mr President…

Salaheldin Magauri: What do you think are the prospects and future of the BRICS group?

Vladimir Putin: As I have mentioned, we can see new development centres and new powerhouses being formed, and all of them are represented in BRICS. In this regard, I believe that the group has a promising future. We have immense respect for other regional associations and we take efforts to cooperate with them.

Frankly speaking, amidst all the active conflicts in the world today, I think that the advancement of BRICS will have a beneficial effect on the global developments, if it develops based on the principles I mentioned earlier, namely, non-confrontation and cooperation solely in the interests of the group countries.

As you see, we are not creating some sort of bloc as an opposition to someone’s interests. This is not a bloc organisation; it has a universal character and I think it will have an overall positive impact on global affairs, including the global economy.

If these efforts help develop the global economy, they will also be beneficial for those countries that are not part of this BRICS group. This is only evident, I think.

I believe that the world economic leaders will ultimately benefit from this as well, even despite many of them now having to face certain problems. We are aware of the issues in the eurozone, which is generally balancing on the verge of recession. It will only serve for the benefit of these economies if they maintain proper and sustainable relations with BRICS countries.

The US economy is apparently going to have a solid growth of over three percent this year. Following the pandemic, it indicated an upsurge of 5.7 percent but then slumped to 2.5 percent. This year, it will show a larger growth of more than three percent. Yet, it still has plenty of problems.

As far as I remember, the [US] foreign trade deficit stands at US$718 billion, while the budget deficit is at US$1.8 trillion and the national debt amounts to US$34.8 trillion. As we can see, even leading economies have a lot of problems. I believe that having good relations with BRICS states – and we are open to these efforts – will have a generally beneficial effect on the global economy.

Dmitry Kiselev: Mr President, one clarification. You said that BRICS countries are working to create a reliable platform for financial information exchange. Can we call it a step towards a single payment system?

Vladimir Putin: No, this is about central banks exchanging financial information.

Dmitry Kiselev: But is it being done to create an alternative to SWIFT?

Vladimir Putin: It is a SWIFT alternative, correct. This is a tool to support international settlements, and therefore trade.
Dmitry Kiselev: Thank you.

CNN Brasil, Brazil. Editorial Director Daniel Rittner, who is on the list of the most respected journalists of Brazil by Jornalistas & Cia (Journalists and Company, a Brazil magazine).

Please, go ahead, Daniel.

Editorial Director of CNN Brasil (Brazil) Daniel Rittner: President Putin,

Thank you very much for such an opportunity.

Firstly, I have to say that I have bad remembrances somehow of Kazan, because I came in 2018 for the World Cup for leisure, and I was so optimistic and confident with Neymar and the international team. We got eliminated, as you know, and we spent the whole night crying.

I am speaking of Kazan because you are preparing so carefully for the summit of BRICS, and we in Brazil are also preparing very carefully another summit, which is the G20 in November. Brazil’s government invited you to come to the G20, to the Leaders’ Summit.

However, the country’s judicial power is completely independent, and many legal experts say it would be necessary to comply with the arrest warrant issued by the International Court of Justice against yourself.

In that regard, let me ask you three simple questions. Are you planning to go to the G20 in Rio in November? Secondly, in face of that, do you think that this situation that I described somehow shows the weakness of BRICS before old organisations like the ICC? And thirdly, with all due respect, do you fear to get arrested in Brazil?

Vladimir Putin: First, I would like to say that the International Criminal Court has no universal power. This is an international organisation whose jurisdiction Russia does not recognise, like many other countries. I believe the US does not recognise it, and neither do China and Turkiye.

In fact, it is perhaps not bad that an independent organisation like this exists, but it must become universal. This is the first point.

Second, it is very easy to bypass decisions like this. Signing an intergovernmental agreement is enough to have the jurisdiction of the International Criminal Court restricted. We have had good, strong and stable relations with Brazil for many years, even decades, so we can basically sign an intergovernmental agreement, with no one to be put in a difficult position. That is all.

As for independence, I do not want to stir up any tension here. However, we know that the International Criminal Court said it was about to make a decision on several politicians from the Middle East, but it was rebuffed by the US and had to shut up. Where is all this? This is why respect towards an organisation that is neither universal nor independent remains so low, unfortunately.

And finally, the main point. Firstly, as you know, our situation is difficult, because the Ukrainian crisis is far from over; secondly, and most importantly, we understand that G20 is a useful forum in general as long as there is no further political bias. Various attempts have been made to politicise it. It was created as an economic platform, and if it develops this way, then it will be useful.

However, we all understand what is going on around Russia. I understand it, too. I have excellent friendly relations with President Lula [da Silva]. Why would I go there to interrupt the routine work of this forum? We all understand that – and I understand this, too – even if we rule out the ICC, the only talk will be about it, which would undermine the work of G20. Why? We are all adults. We will find a senior official who will suitably represent the interests of Russia in Brazil.

Dmitry Kiselev: Thank you.

We treat G20 with care.

Vladimir Putin: We treat everyone with care, except our enemies.

Dmitry Kiselev: Mr President, you have mentioned the Ukrainian crisis. Just yesterday, while addressing the EU summit in Brussels, the ‘expired president’ Vladimir Zelensky said that the sole alternative to Ukraine joining NATO would be acquiring nuclear weapons. Simultaneously, the Bild newspaper published an interview with some anonymous Ukrainian tech-savvy, who claimed that Ukraine only needs a few weeks to build its own nuclear weapons and then make a strike at Russian troops.

What does it all mean?

Vladimir Putin: This is yet another act of provocation. In the modern world, creating nuclear weapons is not a difficult task. I do not know whether Ukraine is capable of doing this now though. It is not easy for Ukraine today, but generally there are no big difficulties in this regard, with everyone knowing how it is done.

This is a dangerous act of provocation, because, obviously, any step in this direction will meet an adequate response. This is the second point.

And third, most importantly, the current Ukrainian leadership claimed that Ukraine should have nuclear weapons. As I have mentioned on many occasions, they had stated that even before the crisis entered its hot stage; although it was a soft statement, it was made anyway. And such a threat will elicit a corresponding response from Russia.
I can say straight away: under no circumstances will Russia allow this to happen.

Dmitry Kiselev: But could it happen that, say, the British secretly provide these nuclear weapons to Ukraine and then claim that it was Ukraine that built them?

Vladimir Putin: Let’s avoid making any hypothetical assumptions and wild guesses about the British or whoever secretly supplying weapons. Such efforts cannot be hidden; they require proper resources and actions. It cannot be done covertly just as you cannot hide a cat in a bag. And we are capable of tracking any steps in this direction.

Dmitry Kiselev: Please, Saudi Arabia, go ahead.

Faisal Abbas (retranslated): I would like to continue with the Ukrainian crisis, if I may.

You thanked Saudi Arabia for voicing its position and assisting in war prisoner swap with Ukraine. Everyone knows about the close friendship between Riyadh and Moscow, but there is also friendship between Riyadh and Kiev. The Crown Prince said in an interview with Fox News that Saudi Arabia was doing everything possible to help settle the crisis.

What is your assessment of Saudi Arabia’s efforts? Many BRICS countries have offered a solution. You said that Riyadh was close both to Ukraine and Russia. Would Russia take part in a peace conference if it takes place in a friendly country, such as Saudi Arabia, in the near future, say, until the end of the year?

Vladimir Putin: You have just mentioned the friendship between Russia and Saudi Arabia. It is true; we regard Saudi Arabia as a friendly country. I have warm relations with the King and also enjoy friendly personal relations with the Crown Prince. I know for sure that everything done by Saudi Arabia in this direction is done sincerely. I have no doubt about that. If Saudi Arabia hosts an event like this, then, of course, it would be a comfortable venue for us.

However, the question is what is there to discuss. As you know, we had lengthy negotiations in Istanbul, Turkiye, which resulted in a document that was initialled by the head of the Ukrainian delegation, who put his signature there. We have this document – it is a draft agreement – and the extract from it. Once again, it was initialled by the head of the negotiating delegation.

So if Ukraine signed the document it means that it suited Ukraine, at least regarding the points of principle. Some details there could be discussed and adjusted further, but I think it is wrong to totally disregard this document, or else any document could be disregarded in this manner.

Therefore, we are ready for a dialogue on a peace settlement to the conflict, but only based on the document that was developed during the thorough talks that took several months and were initialled by the Ukrainian side. We are ready to continue working on these grounds.

There are the initiatives launched by China and Brazil, who have a very sober and objective approach to the settlement process, with a corresponding group established in New York. We are monitoring it carefully, with respect, keeping in mind that all our friends, including BRICS countries, want to promptly settle this conflict by peaceful means. Of course, we understand that this is an aggravating factor in international affairs, in European affairs, and in the economy. We are interested in settling it as soon as possible and by peaceful means like no one else.

Let me repeat this: we are ready to come back. It was not us who broke off the talks; it was the Ukrainian side saying that it would not continue negotiations with Russia.

In addition, a presidential executive order was issued in Ukraine prohibiting any negotiations with us, which is still in effect. They have to cancel it first. It is ridiculous to even say this. Everyone is calling on us to negotiate while forgetting that the Ukrainian side has prohibited itself to negotiate. It is simply ridiculous.

However, the foundation remains the most important thing, this foundation being the draft document developed during the Istanbul negotiations.

Dmitry Kiselev: Yes, thank you.

We can already see a queue forming. Please, go ahead, the United Arab Emirates, then South Africa, and then Brazil. The Emirates, please.

Nadim Koteich (retranslated): Mr President,

As someone who has a thorough understanding of military strategies, do you see any surprises or perhaps feel any disappointment in the Russian army’s performance in this war that has been going on for a long time, longer than you expected?

And the second question: could you determine when you will achieve victory in Ukraine?

Vladimir Putin: You know, setting any deadlines is a very complicated and even counterproductive action.

We have just spoken about the possibility of peace talks. We are all for it. I described how it could be implemented. If this is a totally earnest stance that both sides adhere to, then the sooner the better.

Regarding the army: you know, the character of warfare is ever-evolving in today’s world due to technological progress. It is rather difficult today to give a totally accurate assessment of tomorrow’s events.

Moreover, just recently, people were saying that the today’s warfare was a confrontation of technologies. Today, I have already heard our participants in combat operations saying that the today’s warfare is a “war of mathematicians.”
Here is a specific example: electronic warfare means are used to intercept [the enemy’s] means of destruction and suppress them. The other side makes certain assessments and makes changes to the strike weapons software. Within a week, ten days, three weeks, the other side increases its efforts and makes adjustments to the software in its electronic suppression means. The process continues endlessly. Of course, it is totally evident that the Ukrainian army is unable to do it, neither can they use high-precision and long-range weapons as they simply do not have them. It is evident that this is being done by NATO, its member countries, and military specialists.

Do you see the difference? NATO is fighting us, but they are fighting this proxy war using Ukrainian soldiers. Ukraine does not spare its soldiers in the interests of third states. But it is NATO that uses high-tech weapons, not Ukraine, while the Russian army fights by itself, creating its own military products and developing its own software, which makes an immense difference. I have noticed that the Russian army is definitely becoming one of the most high-tech and efficient ones, especially recently. When will NATO get weary of fighting us? Well, ask them. We are ready to continue this fight – and we will be victorious.

Dmitry Kiselev: We will be victorious.

South Africa, please.

Iqbal Survé: Thank you, Mr President.

When I listen to some of the questions and some of the comments, I am in a way very happy that I stay in Cape Town on the southernmost tip of the African continent, far away from many of these conflicts.

But I also reflect on whether or not the world needs a Mandela moment, and whether BRICS and your leadership can provide that Mandela moment, because, you know, every war has to be followed by peace. That is a sine qua non of the world through the ages. And we have to always find the path to peace. Often, the path to peace is not the path to peace; it is not very easy, because it is not very obvious.

It is also made a lot more difficult by the technological involvement in war today, in conflicts today, because in a way it disassociates people from the war in a way, so to speak.

Mr President, my question is a contradictory one, because, on the one hand, I think you are a peace lover and you want peace, the Russian people want peace, the people in the Middle East want peace, and the people in other parts of the world want piece. But just before we came into this meeting today, the Turkish foreign minister was meeting with a number of his counterparts, I think principally in the Middle East, and he made quite a serious statement. The Turkish foreign minister said that there is an extremely high probability of a war between Israel and Iran. You may or may not have seen that statement by the Turkish foreign minister. Of course, that would be devastating for the region and devastating for the world.

My question is, what are your thoughts on this, Mr President? Can you intervene and what will you do as Russia? And what will BRICS do if this is to happen?

Thank you.

Vladimir Putin: Yes, this situation is complicated and dangerous. I have just described the developments around Ukraine to your colleague and said that NATO was fighting this proxy war using Ukrainian soldiers, while Ukrainian soldiers were using NATO weapons. And we are doing everything ourselves. We are fighting ourselves and making weapons ourselves. The difference is immense, in fact. NATO doesn’t care about Ukrainians: they are not its soldiers. It serves the interests of the United States, and in this sense the US doesn’t care either. Unlike us, for we do care about our soldiers and equipment.

When we think about our soldiers, we think about ensuring peace, including by peaceful means. This is as huge difference. We do not issue orders prohibiting peace talks but say that we are ready for them.

The situation around Iran and Israel is critical, too. A war breaking out there, God forbid, would mean direct military involvement of both countries’ armies. We stay in touch with both Israel and Iran, with which we have quite trustworthy relations. We would like it very much that this exchange of blows, which may very well turn to be endless, stops at some point and ways are found to settle the conflict that satisfy both sides.

The answer to this question always lies on the path towards compromises. Are they possible in this situation or not? I believe they are. However difficult this may be, I still believe it is possible. This is an issue too delicate to try to predict and discuss publicly. I think this is counterproductive, because it could be harmful.

However, the search for solutions like this is highly needed. Of course, if the conflicting parties are interested, we are ready to assist sincerely, with due consideration for the interests of both parties.

Russia and Iran have allied relations, and we can feel very well what is happening in various spheres in this country. Moreover, how can one comment on those previous strikes by Israel? What comments can there be?

On the other hand, I would like to emphasise that we always speak against any terrorist attacks, including those aimed at Israel and its citizens. This is also something we should never forget.

As for the question whether a compromise is possible, I believe it is. If necessary, we, in rapport with both sides, are ready to do everything in our power to help seek these compromises.

Dmitry Kiselev: Mr Rittner, go ahead, please.

Daniel Rittner: Let me, please, get back to the six-point peace plan proposed by China and Brazil.

Would you consider to sit at the table and start negotiations on the terms proposed by China and Brazil? Besides, Mr President, President Zelensky of Ukraine called the plan destructive and said President Lula of Brazil could be considered too much pro-Russian, that’s his words.

Would you consider Mr Lula da Silva an ally, do you think he can play a role in negotiations between Russia and Ukraine?

Vladimir Putin: Well, we knew absolutely nothing about China and Brazil’s proposal on setting up a corresponding group in the UN and developing a corresponding plan. That is, neither Brazil nor China – countries we have very close relations with – chose to consult with us while seeking solutions to a peaceful settlement; they acted as they thought proper.

It is a different question whether it is good or bad. But this simply proves that both Brazil and China are acting independently, without playing into anyone’s hands, including Russia’s. I am saying it to you openly and responsibly; it can be reported by any media. Our Foreign Minister updated me directly from New York about the developments, without any preliminary consultations with Brazil and China. I believe these are balanced and sensible proposals aimed at seeking a peaceful solution. If someone dislikes it, that’s their stance.

As I have said, Ukraine deems it impossible to hold any [peace] talks, it simply voices its demands, and that’s about it. These aren’t talks. They negotiated with us but ceased to do so after agreements were reached in Istanbul, and that’s it. And now they do not want to.

Just recently, when the head of the Kiev regime visited New York, he has once again said publicly that they are not going to engage in any talks. What more can I say? It is their choice to like or dislike the proposals made by Brazil and China.

We got familiarised with these proposals only after they were made public. Once again, I believe they could serve as a solid foundation for further attempts to seek peace.

Dmitry Kiselev: Yes, please. We have India here.

Sudhakar Nair: Mr President,

My question is a kind of mix of some of the earlier questions, it relates to the Ukrainian conflict.

Some time back you suggested that, you know, that India, China and Brazil could be potential mediators to bring an end to the conflict. Our Prime Minister Narendra Modi freely communicates with you, also with the Ukrainian President and also with the US.

Do you feel that a potential mediation could exist in the near future?

Vladimir Putin: You see, your colleague has just asked a question about the developments and tension on the Iran-Israel track and I answered that if anything depends on Russia or our mediation is needed, we will be happy to collaborate with our colleagues.

The same refers to our friends whom we totally trust. In this case I mean Prime Minister Modi. Yes, I know that during each telephone conversation with me he raises this issue and offers his insights about it. I am grateful to him for that and welcome it.

Thank you.

Dmitry Kiselev: We are close to wrapping up. The Emirates, Nadim, go ahead.

Nadim Koteich (retranslated): Mr President,

I would like to follow up on the question from our Brazilian colleague. You have already said Mohammed bin Zayed will arrive in Russia soon, and you will have a meeting. It is a truly important visit. You paid a wonderful visit to Abu Dhabi earlier. We also spoke about the ICC and its activities.

Importantly, Mohammed bin Zayed was in the United States to discuss technology cooperation with the US. How do you perceive the UAE in terms of their capability to build up relations with Iran, the USA, with your and other countries, to cooperate with international organisations such as the ICC? Is it an example of a policy you would like to pursue?

Vladimir Putin: This is a good example indeed. We have very good relations with the Arab Emirates. I have a very trustful and friendly contact with the President. I am confident that his visit will be very fruitful.

For its unofficial part, I mean to invite him to my place nearby. We will have dinner, spend the evening together and talk over all current issues.

The President of the Arab Emirates really manages to maintain good and very business-like relations with a great number of partners. It is very valuable in itself. So, we shall see.

In fact, Saudi Arabia too has done a lot for us, including on detainee swaps. We have similar contact with the United Arab Emirates. Our economic ties are progressing and our trade is growing. It is not as big as that with China, not US$240 billion, but nevertheless, the trend is positive. This is the first point. And the second point is that our investment fund has been operating very well and with success. And it is just one specific instance of our bilateral relations.

Regarding the Middle East agenda, we heed the voice coming from the UAE leadership and we certainly factor it in our practical policy.

Dmitry Kiselev: Fan Yun, China, please go ahead.

Fan Yun (retranslated): We have just discussed many security issues. I am very grateful to you, Mr President, for giving such an important description of Russian-Chinese relations. The Chinese Foreign Ministry has released a statement that President [of China] Xi Jinping will attend the summit in Kazan. Do you think that bilateral relations are in their best era under your and President Xi Jinping’s strategic guidance? What do you expect in the long term?

Russia-China relations look very promising today whether we speak about the production capacities that China and its government are promoting, e-commerce, or any new spheres. Which areas of bilateral relations do you think are the most promising?

Vladimir Putin: Now we are actively working in the energy sector, as you know, and we will definitely continue to develop this area. We are working to create two units at Chinese nuclear power plants and also supply a large amount of energy resources, both oil and gas. We will expand this cooperation.

As I have mentioned, this is beneficial for us and also serves as a reliable source for our Chinese friends because it is free from any outside influence. This is a sort of basic thing. We also expand cooperation in agriculture.

We are grateful to our Chinese friends for opening their market a bit where it serves their interests, including for the supply of agricultural products like pork and some other goods. But these are traditional areas of cooperation, of course.

Yet, we must certainly look to the future, with the most important areas including high-tech cooperation, infrastructure, artificial intelligence, biotechnology, genetics, and space.

Dmitry Kiselev: Yes, please, Saudi Arabia.

Faisal J. Abbas (retranslated): Thank you very much, Mr President.

Thank you for taking the time, and two short questions from me.

The first one concerns Pavel Durov, who holds the citizenship of France, Russia and the Emirates. We are well aware of what has been happening to him recently. What can Russia do to help him?

The second question is about the head of Iran’s parliament. He made a strange statement on the implementation of the [UN] Security Council Resolution 1701. He commented on it quite negatively during his contacts with the French. What can Russia do within the BRICS format to mend the relations between, let’s say, Israel and Iran? And is there a threat of a serious conflict between these countries?

Vladimir Putin: Look, first of all, the relations between Israel and Iran should be built by the two countries – Israel and Iran. It is their job, we cannot interfere in bilateral relations of two respected states in the Middle East which have an important role there.

As for the statements, made by the head of Iran’s parliament, to my mind I hardly need to make any comments on the statements made by heads of representative authorities of other countries. Let me note once again, we have very kind, allied and very trust-based relations with Iran. The situation is tense, everyone is expecting possible strikes by Israel with bated breath. I really do hope that any escalation of this conflict will be avoided.

Let me reiterate once again: we are ready to do our utmost, to the extent possible, if our role in this case is perceived positively, for the conflict in the Gaza Strip to be settled eventually in a peaceful way, for horrible strikes against civilians to stop and for the situation in southern Lebanon to normalise, so that reciprocal strikes from both sides cease and peaceful life comes to this area once again.

I believe that no one is actually interested in further widening the spiral of this conflict, no one – either for security reasons or economic reasons. This is why I believe that chances to find a solution exist. But whether this will be done or not, depends primarily on the countries involved in this conflict.

Dmitry Kiselev: Egypt, then Russia, and I think we will be wrapping up.

Egypt, please.

Salaheldin Magauri (retranslated): Mr President, thank you very much for the invitation.

I would like to talk about Russia-Egypt relations that have recently seen an upswing assisted, among other things, by your relations with Mr Abdel Fattah el-Sisi. A large number of development projects have been launched by Russia and Egypt recently. I would like to hear your opinion of the prospects for these projects and future relations between the two countries.

Thank you.

Vladimir Putin: We have been enjoying traditionally warm and friendly relations with Egypt for many decades.
I am delighted to note that in recent years these relations are being enhanced largely thanks to President el-Sisi. Our trade is growing, we are engaged in large projects – suffice it to say that we are building a nuclear power plant, which is well known, everything is going as planned and I believe that all these plans will be completed.

We need to be more active regarding the industrial zone. We have been talking about it for a long time yet the steps we have taken are pretty modest.

Today, the President of Egypt also mentioned it in his address to the BRICS Business Forum, the industrial zones around the Suez Canal. We also have specific plans related mainly to engineering. These are very interesting long-term projects with both hefty investments and development of industrial cooperation. I think it is crucial.

We will continue our joint work in the humanitarian area, including personnel training. And finally, we will continue our cooperation in security. I hope, work in terms of military-technical cooperation will also be resumed.

In my view, our interaction and coordination of positions on the international arena are very important, including the issues pertaining to ensuring security in the region.

Dmitry Kiselev: Mr President, the sentiment in the West regarding Ukraine has changed. Earlier there were talks about Ukraine’s inevitable victory and settling everything on the battlefield, but now there are active speculations about ceding territories in exchange for the remaining part of Ukraine joining NATO. How do you like this idea?

Vladimir Putin: I do not understand when you talk about ceding territories, because those territories which our soldiers are fighting for on the battlefield, these are our territories. These are the Lugansk People’s Republic, the Donetsk People’s Republic, the Zaporozhye and Kherson regions. This is the first thing.

Second. Without any doubt, apart from this, we need to resolve the issue of ensuring long-term interests of Russia in the security sphere. If we are talking about some specific peace processes, then these should not be the processes connected with a truce for a week or two or for a year what would allow NATO countries to re-arm and stockpile new ammunition. We need conditions for a long-term, stable and lasting peace which would ensure equal security for all participants in this difficult process. This is what we should aspire for.

And if someone spoke at some point about the necessity to inflict a strategic defeat on Russia, ensure victory over Russia on the battlefield, they already saw for themselves that this is impossible and unrealistic, and changed their point of view. Well, they were right to do so, I commend them for that.

Dmitry Kiselev: Thank you very much. We still have a lot of questions, but we understand that the two hours are over. We will not abuse the hospitality of the President of Russia.

Many thanks from all of us for your sincerity and patience. I even wrote down some important things that “BRICS is not an anti-Western alliance; it is simply non-Western.”

Vladimir Putin: This is what Prime Minister Modi said. Not me.

Dmitry Kiselev: Yes, Prime Minister Modi, but you quote him.

Thirty states are interested in cooperating with BRICS, which is very important.

The issue about the common currency has yet to gain relevance, but a reliable exchange of financial information is needed, which is an actual analogue.

Vladimir Putin: And broader use of national currencies.

Dmitry Kiselev: Yes, and broader use of national currencies.

The United States is 15 years late.

No one is interfering in other countries’ relations inside BRICS, but we treat everyone with care and victory will be ours.

Thank you very much, Mr President.

Vladimir Putin: I would like to thank you for arranging today’s meeting. I would like to thank all the colleagues for today’s joint work and the interest you display in BRICS operation.

The group has very good, stable and reliable prospects. Let me reiterate: such confidence is based on the fact that we actually have common values, common understanding how to build relations with one another. And if such countries as India, China, Russia, Egypt, Saudi Arabia, United Arab Emirates and all other BRICS states (there are ten already) and all those who show interest in BRICS – there are already 30 of them and there will be more – if all of them are guided by these common principles, then the organisation will definitely be developing on this solid basis, this foundation and will be a substantial element of the new world order, multipolar world order, reliable in terms of security and development for all peoples included in this group.

I would like to thank you for this joint work and express hope that it is not our last meeting. I hope that your representatives or you will be present during the work in Kazan. And we will do everything to get this work done at the highest level.

Thank you.

Dmitry Kiselev: Mr President, we are very grateful to your press service, which treated us with utmost care. But our last wish for today is a joint photo.

Vladimir Putin: You are welcome.

Dmitry Kiselev: Thank you.

Russia
Source: en.kremlin.ru

The forum is taking place in Moscow ahead of the BRICS Summit, which will be held in Kazan on October 22–24 and will include the new participants in the association for the first time. On January 1, 2024, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia became full participants in BRICS alongside Brazil, India, China, Russia and South Africa.

* * *

President of the Russian Chamber of Commerce and Industry Sergei Katyrin:

Mr President,

Colleagues, friends,

I would like to report that the annual meeting of the BRICS Business Council was held yesterday with the participation of the Council’s national representatives. During the meeting, my colleagues and I approved the annual report, which reflects our performance over the past year, as well as the most relevant proposals from the BRICS business community on further deepening market integration and trade and economic cooperation within the association. This document will be handed over to the heads of BRICS states at the summit in Kazan.

Today, we are holding this year’s BRICS Business Forum, which is a key annual event.

The forum has brought together over 1,000 representatives of the business community, including heads of companies, associations, unions of entrepreneurs, and chambers of commerce and industry from the BRICS countries. We plan to discuss cooperation in finance and investment, transport and logistics, agriculture, information and food security, and sustainable development. We also plan to congratulate the winners of the BRICS international competition of best practices and the BRICS Women’s Startup Competition.

Mr President, on behalf of all the participants at the forum, I would like to thank you for personally attending this meeting, for speaking at this forum, and I ask you to take the floor for your welcoming remarks.

President of Russia Vladimir Putin:

Ladies and gentlemen, friends,

I am sincerely delighted to welcome everyone to the BRICS Business Forum.

I would like to note the wide representation of participants in this hall. We have leading business representatives from every country in the BRICS group. Your companies have been successfully cooperating for a long time, implementing impressive joint projects across a variety of domains: industry and energy, transport and infrastructure, agriculture and the digital economy.

I would like to note, in particular, that this forum is attended by business leaders from countries that became full participants on January 1, 2024. These are our colleagues and friends from Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates.

I would like to emphasise that as the current chair of BRICS, Russia strives to facilitate integration of new members into all cooperation mechanisms. We saw that representatives from the new BRICS countries were warmly received in the Business Council, and they, too, became actively involved in its work.

The theme of Russia’s BRICS Chairmanship in 2024 is Strengthening Multilateralism for Just Global Development and Security. A meaningful action plan is being implemented to advance the partners on three major tracks – politics and security, economy and finance, and cultural and humanitarian ties.

To date, the progress on the plan exceeds 80 percent. Over 200 events, meetings, conferences, and industry gatherings have been held, as well as most of the expert and ministerial meetings. However, the BRICS summit, which will open next week in the Russian city of Kazan, will be the central event.

It is symbolic that the leaders’ meeting in Kazan is preceded by this Business Forum, which underscores the importance of close economic partnership between our countries, promoting trade and investment, and deepening cooperation.

The BRICS partners’ joint efforts aimed at accelerating socioeconomic growth and ensuring sustainable development bring concrete, tangible results and in fact, contribute to improving the well-being and quality of life of our countries’ citizens. The numbers speak for themselves. I am sure you are generally aware of most of the figures, but I will allow myself to cite a few of them.

The association’s total GDP exceeds US$60 trillion, and its overall share in global GDP easily surpasses that of the so-called G7, and it continues to grow.

I have already stated this publicly when meeting with your Russian colleagues, but I will repeat it once again here, in this hall and in your presence. In 1992, the G7 accounted for 45.5 percent of global GDP and BRICS countries accounted for 16.7 percent. In 2023, our group of countries accounted for 37.4 percent while the G7 for 29.3 percent. The gap is increasing and will continue to grow; this is inevitable. This trend is absolutely logical. In the past decade, BRICS states have accounted for over 40 percent of the global GDP increment.

By the end of 2024, BRICS countries are forecasted to post four percent growth, on the average. This exceeds G7 growth rates, which is only 1.7 percent, and the global average, projected at 3.2 percent.

BRICS accounts for approximately a quarter of global goods exports, with companies from BRICS countries dominating several key markets, including energy resources, metals and food – markets that are essential for sustainable economic development. In short, BRICS already plays a significant role in the global economy, and its influence will undoubtedly increase in the future.

In fact, BRICS countries are a driving force of worldwide economic growth. In the foreseeable future, BRICS alone will contribute the bulk of the global GDP increment.

Our association is building upon relevant development platforms, including communication channels, technological and educational standards, financial systems, payment tools and, of course, mechanisms for sustainable and long-term investment. As a result, the impact of external influence on the economic growth of BRICS members will diminish steadily. Essentially, this is what economic sovereignty is all about: it amounts to a partnership between self-sufficient economies that expands their potential many times over and opens up new opportunities.

I should add that the New Development Bank plays a pivotal role in the efforts to boost financial cooperation. With a solid, powerful and efficient structure, it boasts a substantial capital base as well as a team of experienced professionals. As a development institution, the bank operates as an alternative to a vast number of Western financial mechanisms. Obviously, we will further develop it as an independent structure, without opposing it to anyone, and will expand its capabilities.

We expect the New Development Bank to become a major investor in the largest technology and infrastructure projects in the BRICS space as well as the entire Global South.

Greater transport connectivity is among the key goals that aim to strengthen business partnerships within BRICS. Efforts should be taken to create new cargo mains and corridors for businesses and to provide advanced intermodal solutions and logistics schemes.

Russia’s BRICS chairmanship has facilitated regular contacts between transport agencies to address these issues. Work is underway to consider certain initiatives such as launching an online coordination platform and forming a BRICS reinsurance pool.

As far as I know, the association’s Business Council has established a separate subgroup on logistics. I would like to thank the Council members and representatives of the business community for their support of the concept of a permanent logistics platform.

Russia is making active efforts to redirect transport flows to reliable foreign partners. Our flagship projects include the Northern Sea Route and the North-South Corridor, continental arteries that serve as short and profitable trade routes, linking major industrial, agricultural and energy hubs with consumer markets.

We are also implementing an extensive project for the development of the Northern Sea Route and the replenishment of the icebreaker fleet, including nuclear-powered vessels. Coastal passages have been launched to test the routes. Work is underway to upgrade the satellite fleet, build new fuel terminals, establish centres for maritime safety and other coastal infrastructure facilities, and expand automobile and rail access routes to seaports.

The North-South transport corridor connects Russia’s ports in the northern seas and the Baltic region with terminals on the coast of the Persian Gulf and the Indian Ocean, serving as a key to increasing cargo transportation between Eurasia and Africa.

We are also working closely with our BRICS partners in the field of innovation and the digital economy. I have just discussed our capabilities in the food markets, energy markets and so on. We are naturally looking to the future and working to achieve greater outcomes. Together, we are developing e-commerce, introducing the Internet of Things and artificial intelligence, and processing Big Data. A BRICS competence centre will open under the United Nations Industrial Development Agency (UNIDO), aimed at deepening cooperation in the digital transformation of industry.

Moving forward, we need to focus on creating seamless digital infrastructure within BRICS. To this end, it is crucial to establish coordinated approaches among businesses, the public, and the relevant authorities regarding the use of biometrics and ensuring information security. We are counting on relevant recommendations from you, ladies and gentlemen, from the Business Forum.

Colleagues,

Russia is as open as possible to mutually beneficial business cooperation. We are creating comfortable and globally competitive conditions for doing business, for domestic and foreign players, for attracting capital and technology from abroad – primarily, to cooperate with you.

At the same time, I would like to emphasise once again that our combined efforts should primarily focus on developing and strengthening our own platforms that ensure economic growth. I am referring to technological solutions, financial and investment mechanisms, the expansion of logistics, and so on.

I am confident that taking advantage of BRICS’ impressive capabilities – in particular, its large population and wealth of natural resources – will bring maximum benefits to our countries, businesses and all our citizens.

In conclusion, I would like to wish the participants of the Business Forum fruitful discussions, effective work, and all the very best.

I assume that the results of your forum will be reported at the leaders’ meeting in Kazan, as your colleague said, by the current chairman of the BRICS Business Forum. I genuinely hope that you will have the opportunity to see Moscow, the capital of Russia, which is a source of pride for us as one of the most beautiful cities in the world and a rapidly growing world-class megacity.

Thank you for your attention. Thank you.

<…>

Sergei Katyrin: Mr President, we are aware of your packed schedule. We know that you have important issues to address that cannot be postponed. I would like to thank you on behalf of all forum participants for taking part in our meeting, for the close attention you are giving to the BRICS Business Forum, and, in general, for your commitment to the development of entrepreneurship in our country and beyond.

We would like to wish you success in your demanding post. Thank you very much.

Vladimir Putin: Thank you.

For my part, I would like to express my gratitude to our colleagues who have spoken here and to those who took part in our work online today.

In a few days, the President of the United Arab Emirates will come to Moscow on a visit. I will have the pleasure and honour of meeting with him.

As you know, a meeting with the leaders of all BRICS countries is scheduled for next week.

I would like to accede to the words of my colleague and friend, President Ramaphosa, who has said that supporting business activity and enterprise is a priority for the leaders of all BRICS countries. For our part, we strongly hope that you will achieve tangible results thanks to your executive talent, business skills and energy, as well as knowledge and experience. By working together and by helping and supporting each other, we will attain our main goal, which is to ensure progressive development, security and, ultimately, well-being for our countries’ citizens.

The BRICS’ activities are not spearheaded against anyone. They are aimed at attaining our common goal of sustainable development and prosperity for our nations.

I would like to thank you for being with us here in Moscow today and for thinking about how we can advance on this path, as well as to wish you all the best and every success in your noble endeavours.

Thank you very much.

Russia
Source: mid.ru

16th BRICS Summit

I would like to brief you on a major event which Foreign Minister Sergey Lavrov will attend. It will be held at the highest level. It is a BRICS summit scheduled to take place in Kazan on October 22-24. The 16th summit of the group, it will be held in Russia, which holds the BRICS chairmanship this year. The theme of the summit is Strengthening Multilateralism for Just Global Development and Security.

The heads of state will have a busy agenda. They will discuss global and regional issues and the results of cooperation within the framework of their countries’ strategic partnerships in politics, the economy, culture and the humanitarian area. They will also review the results of their security interaction, including the work of their high representatives and relevant agencies in this sphere. They will focus on reforming the international financial system and enhancing the role of BRICS countries, as well as promoting interbank cooperation and mutual settlements in national currencies. Another important item on their agenda will concern the establishment of the new category of BRICS partner states.

The main results of the summit will be set out in the final declaration, including the member states’ consolidated approach to current international and regional issues and the further development of BRICS.

A meeting in the BRICS Plus/Outreach format, scheduled for October 24, will be attended by delegations from over 30 developing countries, in particular, those chairing regional cooperation mechanisms, as well as the heads of executive bodies of international organisations. The main theme of the meeting is BRICS and the Global South: Building a Better World Together. The meeting will focus on the current cooperation between the Global Majority countries and on enhancing their role in decision-making on international issues. Other items will include the situation in hotspots, primarily the Middle East, sustainable development, and food and energy security.

Substantive information regarding these issues has been posted by the Presidential Executive Office and the Foreign Ministry. Our representatives and ambassadors are contributing by giving interviews, speaking about the upcoming events at various venues and in the media, holding news conferences and briefings, and answering questions. We will be happy to answer any questions you may have.

I would also like to note that Foreign Minister Sergey Lavrov will hold a number of bilateral and multilateral meetings with our partners on the sidelines of the BRICS summit. We will provide updates on his schedule. This information will be posted on the Ministry’s website and social media accounts.

The BRICS Business Council annual meeting and the BRICS Business Forum

The annual meeting of the BRICS Business Council and the BRICS Business Forum is scheduled to take place in Moscow on October 17-18.

The BRICS Business Council serves as one of the principal mechanisms for corporate interaction within the association. During the event on October 17, the annual report, encompassing proposals and initiatives from the Council's working groups, will be approved. This document is set to be presented to the BRICS heads of state at their meeting in Kazan.

On October 18, the BRICS Business Forum will convene. Traditionally held ahead of the BRICS Summit, the forum serves as a vital platform for fostering connections among representatives of the business community of the BRICS nations. This year’s panel discussions will concentrate on financial and investment co-operation, international trade and logistics connectivity, agricultural business development and the enhancement of food security, sustainable energy transition, and the role of technological cooperation in advancing the ESG agenda. This agenda underscores a concept that emphasises three primary criteria against which corporate performance is evaluated. It is anticipated that leaders of the BRICS nations will address the plenary session.

In addition, the BRICS Solutions Awards and the BRICS Best Women's Startup Competition awards ceremonies will be held within the framework of the Forum.

Ethiopia
Source: pluralia.forumverona.com

The countdown has started to the BRICS super-summit to be held in Kazan, Russia, on October 22-24. In addition to the heads of state and government of the 10 BRICS countries – Brazil, Russia, India, China, South Africa, Iran, Ethiopia, Saudi Arabia, the United Arab Emirates, and Egypt – more than 30 world leaders were invited to participate, including Turkish President Recep Tayyip Erdogan and United Nations Secretary-General António Guterres.

Numerous ministerial meetings leading up to the group’s annual summit have emphasized the urgent need to consolidate economic, financial, and trade exchanges among the BRICS countries. Before leaving for Russia next week, Ethiopian Prime Minister and Nobel Peace Prize winner Abiy Ahmed (pictured) urged BRICS investors to take advantage of the opportunities available in Ethiopia, especially in sectors related to manufacturing and agriculture – Ethiopia is the world’s fourth largest coffee producer – renewable energy, mining, telecommunications, and tourism. “These sectors of Ethiopia’s national economy have tremendous potential for growth and innovation, and by investing in these sectors, BRICS countries can capitalize on our country’s strategic position as a true gateway to the entire African continent, while contributing to our shared development goals.” The Prime Minister said this during a meeting with journalists in Addis Ababa. According to Ahmed, “Ethiopia is a fast-growing economy and presents significant opportunities for investment, economic and commercial cooperation for both BRICS partners and the rest of the world.”

Ethiopia joined BRICS in January 2024, and “the country is committed to implementing the group’s economic development plan Strategy 2025,” stressed Ahmed, according to whom “the goal of the program shared by Ethiopia is to promote sustainable development in its economic, social, and environmental dimensions in an integrated and balanced manner.” And this is because “the BRICS economic development strategy is in line with Ethiopia’s development goals, particularly with regard to industrialization, food security, and environmental sustainability,” concluded the Ethiopian Prime Minister.

Russia
Source: valdaiclub.com

On October 18, on the eve of the BRICS summit in Kazan, the Valdai Club hosted a presentation of a report titled “BRICS+ Energy: A Mover for the New World Order.” Ivan Timofeev, the moderator of the discussion, noted that although the BRICS agenda is quite broad, energy occupies a special place in the group’s agenda, since Russia is the largest supplier of energy resources, and India, China, and Brazil are dynamically growing economic giants that need larger volumes of supplies. The international situation is also favourable for expanding energy cooperation between the group’s countries. “In fact, a revolution is currently taking place in supplies and logistics,” he emphasised.

Alexey Grivach, Deputy Director General for Gas Problems of the National Energy Security Fund (NESF) and author of the report, pointed out that the centre of energy development is shifting toward the Global South, particularly the Asia-Pacific region and the BRICS countries. More than thirty years ago, the "collective West" thought that it had won once and for all and that history had ended. However, life has shattered this illusion, and now the BRICS countries are defending their positions in the world. The situation is beginning to resemble a confrontation between two equal systems, the analyst believes. In 2022, BRICS members accounted for 40 percent of global electricity demand and almost 44 percent of global electricity generation, while the G7 countries accounted for less than 30 percent of both indicators. In terms of nominal GDP, the Western countries are still noticeably ahead of BRICS, but in terms of purchasing power parity the gap is less than 5 percentage points. The rate of economic growth in most BRICS countries is also higher than in the West.

In addition, BRICS is a serious energy conglomerate, which has further strengthened its position after expansion. Electricity production, which can be considered a measure of economic power, has grown in the group's countries almost five-fold. However, according to Grivach, in terms of per capita energy consumption, BRICS still has a solid growth reserve. He added that in the context of sanctions pressure, the BRICS countries and all countries that want to develop without heeding the dictates of the West are faced with the task of building infrastructure, institutions, and instruments for energy trade. “Our resistance must grow, and this should become one of the main areas of BRICS’ work,” the author of the Valdai Club report believes.

Nivedita Das Kundu, Professor at the Faculty of International Relations at the Uzbekistan State University of World Languages, briefly outlined India’s approach to energy cooperation within BRICS. In her opinion, the topic of the report is “very significant.” The global balance of power is now shifting towards developing economies, and this affects the political and geostrategic situation around the world, she said. Energy cooperation among BRICS member countries serves to break the Western monopoly and hegemony and advances the multilateral agenda. Das Kundu acknowledged that the BRICS group has now adopted a certain anti-Western attitude, and this raises certain concerns for India, which fundamentally adheres to a neutral position and does not want to join the blocs. However, she called the emergence of BRICS+ a good step that facilitates the transition to a new world order. “India seeks to work as part of this large group and get maximum benefits from cooperation,” she concluded.

Russia
Source: russiancouncil.ru

On October 11, 2024, “Russian-Chinese Dialogue: 2024 model” roundtable was held at the Rossiya Segodnya Agency Press Centre. The event was attended by Andrey Kortunov, Academic Director of the Russian International Affairs Council (RIAC), Kirill Babaev, Director of the Institute of China and Contemporary Asia of the Russian Academy of Sciences (ICCA RAS), RIAC member, Xu Changzhi, Deputy Secretary General of the Council for Strategic Cooperation between China and Russia of the Chinese Academy of Social Sciences, and Artem Pylin, Head of the Sector for Bilateral Relations Between Russia and Its Neighboring Countries of the Center for Post-Soviet Studies of the Institute of Economics of the Russian Academy of Sciences.

The experts discussed the topical challenges for Russia and China prior to the BRICS Summit in Kazan in October 2024, highlighted the results of bilateral economic cooperation between Moscow and Beijing, as well as their interaction in Eurasia, including the linking of the Eurasian Economic Union and the Belt and Road initiative and deepening integration within the Shanghai Cooperation Organisation (SCO). The roundtable participants paid special attention to international matters on the Russia-China agenda: in particular, the upcoming elections in the United States and the developments in the Middle East.

During the event, the participants presented the annual joint report of RIAC, ICCA RAS and the Institute of International Studies of Fudan University (Shanghai, China) “Russian-Chinese Dialogue: The 2024 Model”.

Theses
Andrei Kortunov

• During the preparation of the APEC Summit in Vladivostok in September 2012, a need for joint study of Russia-China interaction arose. This is how RIAC's partnership with Fudan University came into being. Over the years of cooperation, despite organizational and structural constraints, the parties have managed to form a sense of teamwork, maintain continuity and consistency in their approaches to the analysis of international relations, but also constantly find new dimensions for the report, taking into consideration the trends in the evolution of global processes.
• The report “Russian-Chinese Dialogue” is a unique project, a joint barometer of the state of partnership between Russia and China and their positions on the most important contemporary regional and global issues. This year, it reflects the events of 2023 and 2024: a new stage of trade and economic cooperation and geopolitical partnership in a very complex environment with increasing pressure on both countries. The anniversary report is timed, among other things, to coincide with the 75th anniversary of the founding of the People's Republic of China and the establishment of Soviet-Chinese diplomatic relations.
• The upcoming meeting of the leaders of Russia and China at the BRICS Summit, like any summit, is a powerful stimulus for the development of bilateral relations, which helps to push officials, experts, and diplomats to address the issues that remain unsolved. For example, in many aspects of international cooperation between Russia and China, it is necessary to move from quantitative to qualitative growth, for instance, by complementing trade with joint production chains.
• Russia and China are interested in preventing escalation in the Middle East. It can be said that almost all BRICS members are in favor of resolving the conflict on the basis of the Palestinian state establishment, de-escalation and preventing the spread of hostilities to new territories. However, it will not be easy for the BRICS countries to take a consolidated position on the details of these processes. Moreover, the humanitarian problem, for example, will require the interference of the international community.
• The ASEAN integration model is qualitatively different from the EU model as more flexible, less binding and bureaucratised. ASEAN members' positions on various issues, including China and Russia, are more diversified. Now it is very important for Moscow to actively develop relations with the countries of the region, overcoming the previous underinvestment. The PRC's experience, whose trade with ASEAN totals $1 trillion, is useful in this regard.
• Regardless of the US elections results, the strategy of ‘dual containment’ aimed at Russia and China will undoubtedly remain intact. Nevertheless, the Democrats traditionally pay more attention to human rights in the world and the search for compromises in Europe and the Asia-Pacific region. The Republicans, in turn, are ready to conduct a tougher policy, for example, to introduce new tariff restrictions. However, the degree of change will depend not only on the new president, but also on the entire team and the composition of the Congress.

Kirill Babaev

• The annual “Russia-China Dialogue” report is a flagship project that is well established in the authorities. It is also one of the most cited informational and scientific sources on Russia-China relations. The high interest in the report is largely due to the fact that the authors do not attempt to conceal problematic aspects of bilateral relations. The material enjoys the trust of readers, and this is the project that should be continued.
• Today, the SCO and BRICS exist primarily du e to the initiative of Moscow and Beijing and the co-operation between the two countries. Russia and China are the cementing pillars of both international organisations.
• BRICS is humanity's hope for a new system of international relations to replace the one that has virtually ceased to exist. Now the consolidated position of the world majority opposed to the West is becoming louder and louder on geopolitical platforms. However, there is still a long way to go in creating the organisational and legal infrastructure for more systematic security, economic development and financial relations.
• The Russia-India-China (RIC) format of interaction that has existed since 2002 is extremely important today, as it unites the three leading Eurasian powers by various parameters: Russia is the largest nuclear power, China is the largest economy, and India is the largest country in terms of population. If the three states can reach an agreement, it will be a significant step towards Eurasian unity. More active work is now underway to strengthen the interaction of the expert community with the prospect of intensifying interaction at the level of relevant ministries.
• The U.S. has engaged in the work on establishing a network of military-political alliances in the Asia-Pacific. However, the majority of regional states, including the most of the ASEAN countries, will take a restrained position, despite the US leaders' policy of disuniting the Asia-Pacific countries and engaging them in Russia and China dual containment. Moscow and Beijing should jointly counter Washington's hostile course in the region and increase interaction with the ASEAN states.

Xu Changzhi

• The report is in line with the highly changing global context and accurately reflects how Russian and Chinese experts view the new realities and prospects for Russian-Chinese co-operation in building a new world order.
• We pay much attention to BRICS and the upcoming summit in Kazan, which is a very important international event at a time of geopolitical instability. China supports Russia's efforts during its chairmanship. BRICS has moved to a new stage of its development and now represents not just the interests of individual countries, but the interests of the global majority. At the same time, BRICS is also an essential platform for Russian-Chinese co-operation on international matters.
• Regarding the crisis in the Middle East, the most crucial is a ceasefire and a common endeavour to seek a way to solve the issues through political means.
• China has consistently been in favour of establishing a free trade zone as a part of the “One Belt, One Road” initiative and the EAEU. Negotiations on this issue have been ongoing for several years, but a political decision by the Russian and Chinese leaders is needed first and foremost to reach an agreement on an FTA.
• Now it is difficult to deal simultaneously with both Republicans and Democrats, who view China as the main adversary, but the Chinese leaders do not intend to aggravate relations with other countries, so they will take the necessary measures to reduce political tension.

Artem Pylin

• Building co-operation with economically and demographically dynamic Central Asia is a key interest of Moscow and Beijing. Thus, both sides are keen to intensify their interaction with the region, considering cooperation as a new stage of the development based on trade and economic ties along with investments. Meanwhile, energy co-operation with Central Asia is also of particular value to China.
• For Russia, Central Asia has traditionally been one of the key ‘neighbourhood belts’, and the country is building friendly and trusting relations with it across the whole range of areas of cooperation. Particularly important are the tasks of providing the Russian market with labour migrants and maintaining markets for raw materials and energy products. Due to the sanctions, Central Asia plays a crucial role of a mediator: through Kyrgyzstan and Kazakhstan, Russia receives a part of goods within the framework of permitted parallel imports.
• The EAEU can claim to be one of the poles of the Greater Eurasian Partnership (GEP), showing a high degree of adaptability to external shocks, having reached pre-crisis levels of mutual trade. The report focuses on the interests, possible projects and visions of Russia and China in building interaction with the GEP regions, given the potential of the EAEU and the “One Belt, One Road” initiative.
• More flexible forms of cooperation should be introduced in the EAEU, for instance, project-based and intra-industry cooperation. The latter can change the imbalance in economic relations between Russia and China, which is a consequence of the inter-industry trade structure, where Russia supplies energy resources and receives goods with higher added value in return. Today, the EAEU partners take sanctions risks into account, but business should actively propose new solutions.

Russia
Source: valdaiclub.com

BRICS today leaves no one indifferent; its polarising influence extends to the remote corners of the world. For some, it is definitely a “bone in the throat”, while for others - the only beacon of hope in the raging ocean of our world. For still others, it is a complete working tool for reforming the existing world order. Regardless of the polarity of the assessments, no one ignores or denies the strong place of the association in international relations.

Recently it was possible to hear in different places that BRICS wouldn’t last forever, like any informal group with a contrived meaning. However, for the BRICS countries themselves, the main purpose of the group is to reform the international institutions which serve as the bedrock of the existing world order. Accordingly, it must achieve its goal and will disappear once it has served its purpose. Indeed, if we consider the association as a battering ram designed to destroy the ossified system of international relations to which the "elderly states" of the West continue to cling, then we can assume that following the fulfilment of this mission, the need for the association itself will disappear. However, none of the institutions and mechanisms familiar to us today will then be able to survive. It will be a completely different world with a different system, built on the ruins of the previous one. To what extent are we all ready for such a level of turbulence? What will this system be like? To what extent will it take into account the vital interests of all states? Who will be on the presidium? How will issues of war and peace, economic competition and ensuring the well-being of the population of the Earth be resolved within its framework? To what extent will the battering ram that destroyed the previous system be able to agree on its basic rules later? However, it seems that such a view is overly radical. While the BRICS countries see the reform of the system of international relations and ensuring its fairer nature as their highest-priority goal, their ways of achieving this goal are fundamentally different.

BRICS is, of course, both the vanguard of the global majority and leaders in their regions (although after the first expansion the concept of regional leadership was somewhat transformed, indicating the importance of collective weight and a cooperative approach to managing regional processes). However, the author is much more impressed by the comparison of the "group" not so much with a revolutionary vanguard, but with an evolutionary core.

If we consider the unification as the core of the process of world transformation, then we can assume that BRICS will not have to spend excess resources and efforts on the process of change.

On the contrary, in parallel with the formation of types and models of external behaviour, a process of internal consolidation is taking place: BRICS applies agreed-upon approaches to itself, without imposing them on the outside world. Given the positive economic and social dynamics of the BRICS countries themselves, a larger number of countries will concentrate around the evolutionary core and gradually form a new, sustainable system, based not on coercion, but on development. In fact, in this case, it will be no less important for the BRICS leaders to continue to maintain established ties, agree on a vision and strategy for a further joint path, and maintain the balance of the updated system.

However, it still has quite a long way to go to achieve the desired goals; having to jump through hoops, the association still has a lot to do, especially given growing confrontation and the increasing stakes for the parties. The fact is, that regardless of how convincingly all BRICS members are not anti-Western, for the United States and its allies, such an association is definitely a threat, if only because the “group” has encroached upon the sacrosanct: the basic parameters and principles of a more democratic, more just and inclusive international system, carefully built by Washington after the end of World War II, and, frighteningly, around the very status of hegemon, and instead promoting the principle of equality and mutual respect in international relations. Therefore, it is clear that attempts to tear member countries away from BRICS or to undermine the association will occur on an ever-increasing scale, using both carrots and sticks.

Moreover, this year can be called a turning point for BRICS, and it is Russia as the chair country that is being looked at especially closely. Is it possible to involve new members in the full-fledged work of the association? Have the newcomers seen what they expected? Higher visibility in the international arena and prestige - definitely yes. But the experience of this year has shown that some new member countries saw in the group something like a prototype of a Western-style aid organisation, only with slightly fewer resources than the West, but at the same time not limited by political conditions. Joining BRICS would solve existing financial and economic problems through the distribution of appropriate funds.

Some did not understand the lack of automatism of joining BRICS and joining the New Development Bank. Although BRICS does not entail donors and recipients of aid; it’s not about leaders and followers, BRICS is about building mutually beneficial ties and promoting projects and programmes aimed at long-term and sustainable development, but this is a road with traffic in both directions. Therefore, it is not entirely correct to say what BRICS will give me if I join the group. Everyone contributes their share of the pie so that the overall benefit becomes greater.

However, despite the sometimes-inflated expectations of immediate bonuses, as well as the unexpectedly intensive work for newcomers in a large number of areas, both the official track and the second diplomatic track   , the initial integration of the expanded BRICS can be considered quite successful. Today, in the context of discussions, it is not always possible to guess who is working together for the first year within the association, and who is already a recognised veteran. At the same time, this renewed vigour raises the question of the need to preserve the so-called institutional memory of the association.

The creation of a common BRICS platform based on distributed ledger technologies with independent national sections, containing all documentary and analytical information from the start of the association, online negotiation tracks, position papers, thematic projects and the ability to intelligently search with different levels of access for members and partners, officials and representatives of the second track will ensure the continuity of presidencies, as well as quickly delve into the work processes for both potential new countries and new participants in the negotiation process within the country. At the same time, the main disadvantage of international organisations will be absent - excessive bureaucratisation and unfounded claims of the secretariat to manage the content. It can be called a virtual secretariat, as was once proposed and even approved by the leaders, or a BRICS communication platform.

In any case, a positive side effect could be the construction of a holistic picture of what the group has achieved over the past decade and a half and a revision of approaches to solving existing problems, possibly taking into account the experience of new members. A direct bonus would be the opportunity to immediately immerse new member countries in upcoming negotiations and actions; not only in terms of content, but also in terms of organisation (as an example, we can cite questions about the process of promoting initiatives in the event when a country is not the chair).

We should understand that BRICS will not be able to simply close its doors to the remaining candidates. The author has nevertheless repeatedly said that pursuing developments too rapidly could negatively affect the effectiveness of the club. We already understand that doubling the number of participants already requires much greater diplomatic efforts than before. Moreover, within the group there are at least three pairs of countries for whom not everything is so smooth in terms of bilateral relations. Earlier Sergey Lavrov has said that the current participants have reached a consensus on the need to take a break. This is also why the criteria for partners that can be involved in individual joint projects of the group should be better defined. They should only gradually be drawn into the orbit of BRICS, without further weighing down the core of the structure. The New Development Bank of BRICS stands apart; perhaps after a more thorough familiarisation with the work of all formats, one of the partners will prefer to direct their efforts specifically towards the Bank; at least, such a statement was recently made by the leadership of Algeria.

However, what the BRICS leaders agree on, and this is one of the distinctive features of such informal mechanisms, may completely overturn all assumptions. Although most of the decisions are carefully prepared by the Sherpas with the participation of industry ministries and departments, there is a serious chance of an impromptu decision during the summit itself. If we recall last year, it was discussed that Brazil and India were unequivocal opponents of expansion, but in the end, we saw a consensus decision to invite six new members. Often, leaders are less conservative than their government apparatus and are able to see a more complete picture of what is happening. Moreover, the upcoming summit in Kazan is expected to bring together an unprecedented number of countries and heads of international organisations.

BRICS consistently addresses the topics of reform of international political and financial-economic institutions. Moreover, it was the latter of these that was worked out in more detail at the first summit. Incidentally, it took place a year after the beginning of the global financial-economic crisis, the source of which was the USA. Although the G20 was elevated to the global level, met twice a year since 2008 during the acute phase, and all original BRICS member countries are part of this world economic directorate, it turned out to be important for the four countries (South Africa joined the group, turning it into BRICS only during the third summit, in 2011) to have the opportunity to meet separately, without pressure from the more consolidated G7, and agree on common approaches and principles to issues of global governance and the reform of international institutions. The group's first success in pushing through the IMF quota reform showed that the countries can achieve much more together. Collectively, the group's countries have come close to a common blocking share in the Fund   However, this revision was limited in nature and, despite the established commitments, it remains without continuation.

Having become convinced that the Western countries do not want to lose their control and their own advantages within the framework of the monetary and financial institutions they created after the end of World War II, in parallel with their collective negotiating position on multilateral platforms, the BRICS began to form, if not alternative, then parallel institutions. The first in line was the New Development Bank of BRICS, and then there was a need to work on ensuring conditions for independent international trade. Moreover, Western countries have moved to a new round of confrontation, having started to weaponise the dollar and the SWIFT payment system. I repeat, despite the fact that BRICS does not and will not take an anti-Western stance (because a number of countries have quite close relations with the USA and Western Europe), each of the countries understands that it needs insurance in implementing an independent national policy. That is why one of the key issues now is the development and promotion of BRICS's own payment instrument. It is no secret that it is important for all countries to understand that there is no alternative toward this project. Then there is the lengthy and meticulous work on harmonising the relevant legislation, searching for the necessary technological solutions, assessing the status and capabilities of the national currencies of these countries and much more. There are several models of the development of events which experts have presented which have yet to be finally assessed. Only then can close work begin on the implementation of such a model.

BRICS today is not only in great demand, it is also simply a “fashionable” project. However, this fashion for BRICS creates excessively high expectations with regards to the results of its work. This is precisely what poses the main danger for the group. Therefore, I would like to urge you not to make superficial assessments of the results of the upcoming summit. The active fans, while elevating BRICS to Olympus and ignoring the realities on Earth, very quickly cool down when the realities force them to remember that Olympus has always been dauntingly out of reach. There are those who know that the result is achieved with sweat and blood, and that it is necessary to work hard to ensure that the aspirations of BRICS to build a more democratic and fair world order will not remain unrealised.