Russian President Vladimir Putin, addressing the BRICS summit in South Africa on August 22, emphasized the grouping's significance in meeting the aspirations of the world's majority population. His remarks underscored the core principles of equality, partnership, and respect for each other's interests that define the association's strategic direction, Reuters reported.
Putin's emphasis on BRICS' role
President Putin, speaking at the BRICS summit, highlighted the grouping's cooperative approach as one that aligns with the aspirations of the global majority. He reiterated the principles of equality and partnership that guide the member nations – Brazil, Russia, India, China, and South Africa – in their collaborations.
"We cooperate on the principles of equality, partnership support, respect for each other’s interests, and this is the essence of the future-oriented strategic course of our association, a course that meets the aspirations of the main part of the world community, the so-called global majority," Putin mentioned.
Earlier Daryo reported that the combined population of more than 40% of the world, the BRICS grouping has become a vital forum for discussions on international issues. While the summit was expected to address the possibility of new members, Putin did not elaborate on this topic.
Putin underscored the summit's intention to discuss the shift of trade among member countries from the U.S. dollar to national currencies. The New Development Bank, established by BRICS, is anticipated to play a significant role in this transition. The process of de-dollarization in economic relations is gaining momentum, reflecting the bloc's efforts to diversify trade mechanisms.
Russian economy and diplomacy
Amid Western sanctions and geopolitical tensions, Russia sees BRICS as a valuable platform to cultivate diplomatic and trade relationships. Putin highlighted Russia's focus on two key projects: developing a northern sea route with new ports and infrastructure, and establishing a north-south corridor linking Russian ports to terminals in the Gulf and the Indian Ocean.
Putin assured Africa of Russia's commitment to being a reliable food supplier. He revealed ongoing discussions on providing free grain to a group of African nations, reinforcing Russia's role in ensuring food security for its trading partners.
Putin's participation was hindered by an International Criminal Court (ICC) arrest warrant, stemming from allegations of war crimes in Ukraine. Russia rejected the accusation and highlighted its non-membership in the ICC.
Earlier Daryo reported that President Xi Jinping's speech during the BRICS summit underscores China's economic strength, highlighting resilience and preparedness for policy action under global observation.
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