The annual BRICS summit is being hosted by Russian President Vladimir Putin in Kazan, Russia, bringing together world leaders at a critical time when Russia is engaged in a conflict with Ukraine. The BRICS group, comprising Brazil, Russia, India, China, and South Africa, aims to challenge the economic and political dominance of the West. The summit, the 16th of its kind, serves as a platform for member countries to set priorities and engage in discussions. In 2023, BRICS extended invitations to include additional countries such as Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, to join the alliance.
Leaders from BRICS member countries, as well as other countries interested in strengthening ties with BRICS, are attending the summit. Notably absent is Brazilian President Luiz Inacio Lula da Silva, who had to cancel his trip due to a head injury. United Nations Secretary-General Antonio Guterres is expected to attend the summit, despite criticisms from Ukraine’s Ministry of Foreign Affairs concerning his acceptance of the invitation to meet with Putin. The ICC has also issued an arrest warrant against Putin, accusing him of war crimes related to the conflict in Ukraine.
The agenda of the BRICS summit revolves around the members’ discontent with Western-dominated global institutions, particularly in economic matters. The imposition of sanctions on Russia following the war in Ukraine has led to concerns among Global South nations about the potential weaponization of financial tools by the West. Members of BRICS are looking to reduce their dependence on the US dollar and the SWIFT system, exploring alternatives for bilateral trade using national currencies to increase financial independence from the West.
For Putin, the BRICS summit holds great significance as an opportunity to showcase that Russia is not isolated and has important partners like India, China, and other emerging powers. Being targeted with a slew of sanctions and facing an ICC arrest warrant, Putin’s attendance at international events has been limited. However, the expanded BRICS group, representing a significant portion of the world’s population and GDP, highlights Russia’s continued relevance on the global stage despite its isolation by Western powers.
The future of BRICS appears to be one of expansion, with additional countries expressing interest in joining the alliance. Southeast Asian countries, such as Thailand and Malaysia, have shown interest in joining BRICS, along with NATO member Turkey. This trend reflects an increasing number of countries’ desire to maintain partnerships with multiple nations and not have to choose between sides. As BRICS continues to evolve and expand, it presents a challenge to the traditional Western-centric global order and aims to promote greater financial independence for its members.
