CHINESE President Xi Jinping, Indian Prime Minister Narendra Modi and other global leaders arrived in Kazan, Russia, today for the 16th annual Brics summit.
For Russian President Vladimir Putin, this three-day meeting serves as a demonstration of the failure of US-led efforts to isolate Russia over its actions in Ukraine.
Kremlin foreign affairs adviser Yuri Ushakov described the summit as “the largest foreign policy event ever held” by Russia, with 36 countries participating and over 20 represented by heads of state.
The Brics alliance, originally composed of Brazil, Russia, India, China, and South Africa, has expanded to include Iran, Egypt, Ethiopia, the United Arab Emirates and Saudi Arabia.
Turkey, Azerbaijan and Malaysia have also applied for membership, with others expressing interest.
Currently, Brics accounts for 45 per cent of the world’s population and 35 per cent of its economy.
The group is discussing projects such as developing an alternative to the Swift global payment system, which would allow Russia to bypass Western sanctions and continue trade with its partners.
Despite Western concerns, Mr Putin said that Brics is not in opposition to anyone.
He said that the group is driven by shared values and mutual respect, stating that Brics nations work together based on common interests.
But China and India, the largest buyers of Russian oil, have strained relations, while tensions also persist between Arab nations and Iran.
Later in the week, Mr Putin is scheduled to meet with United Nations secretary-general Antonio Guterres, marking Mr Guterres’s first visit to Russia in over two years.
The meeting is expected to address key global issues amid growing geopolitical tensions.
