Following Russia's full-scale invasion of Ukraine in 2022, Western nations responded with extensive economic sanctions, restricting Russia's access to the global banking system, and seeking to diplomatically isolate the country.
This week, President Vladimir V. Putin convenes leaders from emerging market nations in Kazan, Russia, aiming to demonstrate to the West that he maintains significant alliances.
Russia is hosting the BRICS group — Brazil, Russia, India, China, and South Africa. This year's conference, starting Tuesday, has expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates.
The BRICS alliance, which represents nearly half of the world's population and over 35 percent of global economic output adjusted for purchasing power, is designed to showcase economic strength and attract new members to a coalition that Russia hopes will establish a new world order unaligned with Western influence.
“This summit is about Putin punching back,” noted Alexander Gabuev, director of the Carnegie Russia Eurasia Center in Berlin. Gabuev stated that Putin frames the conflict in Ukraine as a means to dismantle the existing world order and foster the emergence of a new one.
In his comments prior to the summit, Putin asserted that more than 40 percent of global GDP growth in the last decade has originated from BRICS countries, suggesting a diminishing role for the developed G7 nations.
Putin, unable to attend last year's summit in South Africa due to an international arrest warrant, will this year engage in 17 bilateral meetings alongside larger group discussions.
“Standing next to all of these leaders shaking hands and taking pictures, Vladimir Putin will be trying to tell the world that Russia is not isolated,” said Gabuev.
Beijing and Moscow are eager for BRICS expansion, having invited representatives from an additional 20 nations expressing interest in joining the organization.
Key proposals on the agenda include the establishment of a BRICS payment system, known as BRICS Bridge, to help Russia navigate financial transactions impeded by sanctions.
Additionally, Russia's finance minister aims to gather support for creating a body that could serve as a substitute for the International Monetary Fund, which suspended engagement with Moscow in 2022.
While Putin plays host, China's leader Xi Jinping is anticipated to attend in a strong position, with plans for a fourth face-to-face meeting with Putin since the onset of the Ukraine conflict.
Despite Western pressure on China regarding its support for Russia, Xi and Putin have strengthened their alliance, fueled by shared grievances against the United States.
China accounts for over 60 percent of BRICS's combined economic output, significantly impacting the group’s dynamics and allowing Beijing to commit more investments toward other member nations.
Analysts are particularly interested in the potential interactions between Xi and Indian Prime Minister Narendra Modi, as any sign of easing tensions could have substantial geopolitical implications.
China aims to leverage BRICS to challenge U.S. hegemony amid deteriorating relations with the West, attempting to present the coalition as a representative of the Global South.
However, coordination difficulties emerge with BRICS's expansion, evidenced by the failed release of a joint statement following recent foreign ministers' meetings.
The competition for leadership within the Global South between China and India complicates consensus-building within the group, particularly as member democracies seek a balance between the influences of Beijing and Washington.
Countries like Saudi Arabia remain hesitant to join BRICS, as they navigate relations with both Russia and the United States, highlighting the complexities of the geopolitical landscape.
The formation of BRICS has gained momentum with the return of President Luiz Inácio Lula da Silva in Brazil, who is set to assume the rotating presidency of BRICS in January 2025, promoting greater collaboration among developing nations.