Kazan: As the BRICS summit convenes in Kazan, Russia seeks to emphasise the growing influence of the non-Western world, but faces mounting pressure from partners such as China, India, Brazil, and the Arab world to find a resolution to the war in Ukraine.
BRICS: A Rising Global Force
The BRICS bloc- representing 45 percent of the world’s population and 35 percent of global economic output (by purchasing power parity) showcases the shifting dynamics of global power, with China contributing more than half of the group’s economic strength.
Russian President Vladimir Putin highlights that the group does not oppose the West but rather reflects “an association of states united by common values, shared visions for development, and mutual respect for each other’s interests.”
BRICS Summit officially begins today in Kazan, Russia. pic.twitter.com/o0QS85grV1
— BRICS News (@BRICSinfo) October 22, 2024
Ukraine War takes Centre Stage
Despite Russia’s attempt to focus on economic cooperation, Putin faced pointed questions about the prospects for peace in Ukraine. He dismissed any possibility of ceding control of the four Ukrainian regions that Russia claims to have annexed- Donetsk, Luhansk, Zaporizhzhia, and Kherson while reiterating that Russia’s long-term security interests in Europe must be addressed for any ceasefire to occur.
Though Russian sources suggest there is talk of a potential ceasefire agreement, no concrete developments have emerged, with many waiting to see the outcome of the US presidential election on November 5.
Currently, Russia controls 20 percent of Ukrainian territory, including the Crimea peninsula, which it annexed in 2014, and large portions of the industrial Donbas region.
Diplomatic Mediation
On the eve of the summit, Putin held informal talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan at his residence near Moscow, where they discussed the war in Ukraine until midnight. Sheikh Mohammed assured Putin of continued efforts toward peace:
“We are ready to make any effort to resolve crises and promote peace in the interests of both sides.”
While Chinese President Xi Jinping and Indian Prime Minister Narendra Modi are attending the summit, Brazilian President Luiz Inácio Lula da Silva cancelled his participation following medical advice to avoid long-haul travel after sustaining a minor brain haemorrhage at home.
BRICS Expansion and Future
The BRICS group- originally comprising Brazil, Russia, India, and China, with South Africa joining in 2010- has since expanded to include Egypt, Ethiopia, Iran, and the UAE, with Saudi Arabia expected to formalise its membership soon.
Looking ahead, the International Monetary Fund projects that BRICS will account for 37 percent of global GDP by the end of the decade, further eroding the economic dominance of the G7 bloc, whose share of global output is expected to decline to 28 percent from the current 30 percent.
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