Vladimir Putin on BRICS Bloc
Vladimir Putin views the BRICS Bloc as an increasingly important grouping of major emerging economies that attracts support from like-minded countries sharing its fundamental principles. These principles include sovereign equality, mutual respect for development paths, and the pursuit of collective solutions to global challenges.
Putin stresses that the bloc aims for a multipolar international order and a fair global financial and trade system, positioning it as a force for fairness in international relations. Under Russia's 2024 chairmanship, the motto emphasized strengthening multilateralism for equitable global development and security.
Under Putin's leadership, BRICS is actively promoted as a counterbalance to the West, particularly in the context of what he perceives as Western-dominated payment systems and the impact of illegal unilateral sanctions. Russia's focus within the bloc includes deepening cooperation in politics, security, economy, finance, and humanitarian contacts, with an eye on integrating new participants.
Context
Vladimir Putin's support for BRICS is fundamentally tied to his broader foreign policy goal of challenging the perceived dominance of the West and promoting a multipolar world order. He frames the bloc as an essential institution for countries seeking to escape what he describes as Western attempts at global hegemony.
His rhetoric frequently contrasts BRICS principles of sovereign equality and mutual respect against Western actions like illegal unilateral sanctions, protectionism, and market manipulation. For Putin, BRICS cooperation, especially in creating alternative financial mechanisms, is a direct response to these perceived threats.
Timeline
- Putin told the South Africa summit that BRICS should evolve into a trading bloc that represents the “global majority.”
- As Russia assumed the chairmanship, Putin reiterated that BRICS attracts like-minded nations and announced the motto focusing on multilateralism and security.
- Hosting the summit, Putin praised BRICS as a counterbalance to the West's "perverse methods" and pushed for developing alternatives to Western financial systems.
Actions Taken
- Diplomatic Summit HostingPresided over the BRICS summit in Kazan, focusing on deepening financial cooperation, including developing alternatives to Western-dominated payment systems.
- Leadership Role AssumptionAssumed the BRICS chairmanship for 2024, announcing plans for over 200 events across Russian cities as part of the chairmanship agenda.
- Economic ProposalProposed creating a new BRICS investment platform to support member economies and provide resources to the Global South and East.
Key Quotes
Strengthening multilateralism for equitable global development and security.
The BRICS strategy in the global arena conforms with the strivings of the main part of the global community, the so-called global majority.
We cooperate on the principles of equality, mutual support and respect for each other's interests. This is the essence of the future-oriented strategic course of our association...
Sources4
Putin says BRICS attracting further support from countries sharing bloc's underlying principles
* This is not an exhaustive list of sources.