Brics summit in Russia: Putin wants to build Brics into a new center of power

Kremlin boss Vladimir Putin wants to encourage the Brics alliance to cooperate more closely, especially in the financial sector. Kremlin spokesman Dmitry Peskov denied that Moscow was trying to use Brics to combat the dominance of the US dollar on world markets. However, Putin had previously criticized the dominance of the US currency several times and only a few weeks ago announced that he wanted to set up an independent payment and settlement system within the Brics.

“Cooperation within the framework of the Brics is not directed against anything or anyone – not against the dollar, not against other currencies. It has the sole aim of ensuring the interests of the countries participating in the format,” Peskov said.

The abbreviation Brics stands for the first letters of the first five members: Brazil, Russia, India, China and South Africa. There are strict security precautions for the summit meeting in the Russian city of Kazan, which runs until Thursday, as China’s President Xi Jinping, India’s Prime Minister Narendra Modi and other heads of state and government are also guests.

Russia wants to circumvent Western sanctions with Brics

For Moscow, this is particularly relevant in view of the war of aggression against Ukraine: As a result of the war, Western industrialized countries have imposed sanctions against Russia, which are particularly hard on the country’s financial sector. Russia was switched off from the international payment information service Swift and access to dollars and euros was restricted. Putin therefore repeated the proposal to settle bilateral trade in national currencies in Kazan in several discussions with his foreign guests such as South African President Cyril Ramaphosa.

Putin also sees the Brics as a political alliance. He strives to build a new world order without Western dominance. At the same time, he also emphasized that the Brics alliance, which now also includes Iran, Egypt, Ethiopia and the United Arab Emirates, is not directed against anyone.

Putin hopes to counterbalance the West

China and India, by far the two most populous countries, are part of the Brics. According to the Kremlin, this also gives the alliance moral authority because it speaks for a large part of the world’s population.

The addition of new members is intended to give the organization further weight. In total, more than 20 heads of state and government arrived. She sees Russia as a potential candidate for membership. The rapprochement of NATO member Türkiye is interesting in this regard. Their President Recep Tayyip Erdogan also flew to Kazan.

However, China’s state and party leader Xi Jinping is considered the most important guest. China’s backing is important for Putin’s continued warfare in Ukraine. Like Moscow, Beijing is also interested in breaking the dominance of the West and sees the Brics as a possible instrument for this purpose.

Hug with Modi and mediation offers

In any case, the summit provided Putin with plenty of images on the first day to refute the narrative that he was internationally isolated because of the war. He warmly hugged India’s Prime Minister Narendra Modi at his reception in the Kazan Kremlin.

Modi once again offered the host India’s mediation in the Ukraine conflict. “We fully support the restoration of peace and stability as quickly as possible,” said the Indian leader. Problems should be resolved in a peaceful manner. Since India has humanitarian concerns in mind, the country is in contact with all sides and will continue to be ready to “provide any kind of support” to end the war. Modi said he wanted to deepen the topic in further talks with Putin.

Modi had already visited Russia in July. His hugging gesture with Putin sparked anger in Ukraine, as a Russian missile attack had previously destroyed a children’s hospital in Kiev. Later, Modi also hugged Ukrainian President Volodymyr Zelensky during his visit to Kiev.

UN Secretary General also comes to talks

Putin is also scheduled to hold talks with UN Secretary General Antonio Guterres in Kazan. The Kremlin said it will also cover the crises in the Middle East and Ukraine. While Russian media justified the visit with the increased importance of the Brics for the West, criticism came from Ukraine.

The fact that Guterres ignored the peace summit in Switzerland but is now traveling to Kazan was a wrong choice, the Ukrainian Foreign Ministry said on Platform X.

Guterres visited both Russia and Ukraine after the war began in an attempt to reach a peaceful solution. With UN mediation, Moscow and Kiev concluded the grain deal in the summer of 2022, which allowed Ukraine to export part of its agricultural yields by sea despite the war. A year later, however, Russia terminated this agreement on the grounds that Ukraine was allegedly using the sea corridor set up for grain freighters to deliver weapons. No concrete results are expected from Guterres’ current visit to Kazan.

Schulze: Putin wants an “anti-Western” alliance

Development Minister Svenja Schulze accused the Russian president of wanting to position the group of states as an “anti-Western” alliance. The answer to this must be to make neutral member states of the group such as Brazil, India and South Africa “better offers for fair cooperation,” said the SPD politician. As an example, she cited increased commitment to infrastructure projects in Asia, Africa and Latin America.

“Putin’s camp thinking, who wants to present himself in Kazan as the leader of an anti-Western group, is outdated in today’s multipolar world,” said Schulze. “This is also reflected in the fact that many of the Brics guests are also represented at G7 meetings and work well with us.”