Putin Welcomes Global Leaders to BRICS Summit Amid Geopolitical Tensions

Russia, Oct 22 (Alliance News):  President Vladimir Putin is set to host the 2024 BRICS Summit in Kazan, welcoming delegations from 36 countries, including 22 heads of state and six international organizations.

This gathering is touted as the “largest-scale foreign policy event ever” held in Russia, according to the Kremlin.

The BRICS acronym, first introduced by former Goldman Sachs economist Jim O’Neill in 2001, highlights the growth potential of Brazil, Russia, India, and China. The group has since expanded to include South Africa, Egypt, Ethiopia, Iran, and the UAE, with Saudi Arabia yet to formally join.

In a press briefing with BRICS representatives, Putin emphasized that the group is not in opposition to anyone, stating, “This is an association of states that work together based on common values and interests.”

He noted that BRICS nations are expected to increase their share of global GDP to 37% by the end of the decade, while the G7’s share is projected to decline to around 28%.

Russia aims to persuade BRICS members to establish an alternative international payments platform to reduce dependence on Western financial systems, particularly in light of ongoing sanctions.

Despite the collective goals, there are internal divisions within BRICS. China and India maintain complex relations, and tensions exist between Arab nations and Iran.

During the summit, Putin is scheduled to meet with Indian Prime Minister Narendra Modi and Chinese President Xi Jinping on Tuesday, followed by discussions with Iranian President Masoud Pezeshkian and Turkish President Tayyip Erdogan on Wednesday.

The summit takes place against a backdrop of significant global challenges, including the ongoing conflicts in Ukraine and the Middle East, a slowing Chinese economy, and potential trade tensions related to the upcoming US presidential election.

Reporters pressed Putin about prospects for a ceasefire in Ukraine, but he reiterated that Russia would not relinquish control over the four regions in eastern Ukraine claimed by Moscow.

Ahead of the summit, Putin held informal discussions with UAE President Sheikh Mohammed bin Zayed Al Nahyan, praising their mediation efforts regarding the Ukraine crisis. Sheikh Mohammed expressed readiness to assist in resolving conflicts and promoting peace.