On July 11, 2024, Russian President Vladimir Putin addressed the BRICS Parliamentary Forum in Saint Petersburg, Russia.
KAZAN, Russia, October 22 (Reuters) – Despite the fact that Moscow’s partners from China, India, Brazil, and the Arab world are urging President Vladimir Putin to find a way to end the war in Ukraine, Russia wants the BRICS summit to be a showcase for the growing influence of the non-Western world.
On the basis of purchasing power parity, the BRICS group is now responsible for 45 percent of the world’s population and 35 percent of its economy.
However, China is responsible for more than half of the group’s economic power.
In a statement to reporters from BRICS nations, Vladimir Putin, who is portrayed as a war criminal by the West, stated that “BRICS does not put itself into opposition to anyone” and that the shift in the drivers of global growth was simply a fact.
“This is an association of states that work together based on common values, a common vision of development and, most importantly, the principle of taking into account each other’s interests,” according to the president.
The BRICS summit is taking place in Washington at a time when global finance chiefs are gathering in the midst of a war in the Middle East as well as in Ukraine, a faltering Chinese economy, and concerns that the impending presidential election in the United States could spark new trade conflicts.
Reporters from the BRICS nations bombarded Vladimir Putin with questions about the likelihood of a ceasefire in Ukraine. Putin had ordered the deployment of troops into Ukraine in 2022, following eight years of fighting in eastern Ukraine.
According to Putin, he will not relinquish the seized territories of Ukraine.
The response that Putin provided was, in a nutshell, that Moscow would not trade away the four regions of eastern Ukraine that it claims are now a part of Russia, despite the fact that components of those regions continue to be outside of Russia’s control, and that it desired to have its long-term security interests taken into consideration in Europe.
Despite the fact that there was growing speculation in Moscow about the possibility of a ceasefire agreement, there was nothing concrete as of yet, according to two Russian sources.
Additionally, the world was waiting for the outcome of the presidential election that took place in the United States on November 5!
Russia is making progress and currently controls approximately one fifth of Ukraine.
This includes Crimea, which it seized and unilaterally annexed in 2014.
Additionally, Russia controls approximately eighty percent of the Donbas, which is a coal-and-steel zone that includes the regions of Donetsk and Luhansk, and more than seventy percent of the Zaporizhzhia and Kherson regions.
According to Putin, the West has come to the realization that Russia will emerge victorious, but he has stated that he is willing to engage in discussions based on draft ceasefire agreements that were reached in Istanbul from April 2022.
Putin met with Sheikh Mohammed bin Zayed Al Nahyan, the President of the United Arab Emirates, on the eve of the BRICS summit.
The meeting took place at Putin’s residence in Novo-Ogaryovo, which is located outside of Moscow.
The informal conversation lasted until midnight.
As XI and Modi attend the summit, illness continues to keep Lula at bay.
Putin has lauded both Sheikh Mohammed and Saudi Crown Prince Mohammed bin Salman for their efforts to mediate the conflict in Ukraine.
However, the latter will not be present at the summit that will take place in Kazan.
“I assure you that we will continue to work in this direction,” Mr. Sheikh Mohammed said to Mr. Putin.
“We are ready to make any efforts to resolve crises and in the interests of peace, in the interests of both sides.”
Indian Prime Minister Narendra Modi and Chinese President Xi Jinping are scheduled to attend the event; however, Brazilian President Luiz Inacio Lula da Silva has decided to cancel his trip.
This decision was made in response to medical advice that advised him to temporarily avoid long-haul flights following a head injury that occurred at home and resulted in a minor brain hemorrhage.
In a research paper that highlighted the enormous growth potential of Brazil, Russia, India, and China in this century, Jim O’Neill, who was serving as the chief economist at Goldman Sachs at the time, came up with the acronym BRIC in the year 2001.
As Russia, India, and China began to meet in a more official capacity, Brazil, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates eventually joined in. In a formal capacity, Saudi Arabia has not yet joined.
It is anticipated that the share of global GDP that is accounted for by the Group of Seven major Western economies will decrease to approximately 28% from 30% this year, while the share that is accounted for by the BRICS nations is expected to increase to 37% by the end of this decade, according to data from the International Monetary Fund.
The Russian Federation is making an effort to persuade the BRICS nations to construct an alternative platform for international payments that would be exempt from sanctions imposed by the West.
The BRICS nations, however, are deeply divided.
China and India, the two countries that buy the most oil from Russia, have tense relations with one another, whereas the relationship between Iran and Arab nations is not exactly a happy one.
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