The XVI BRICS Summit, a key event under Russia's chairmanship of the group, begins today in Kazan. Leaders from major global powers will discuss pressing global crises, the formation of a multipolar world, and the integration of new member states into BRICS.
For the first time, the summit will take place in the format of a “group of ten,” reflecting the addition of five new members in 2023. In addition to Brazil, Russia, India, China, and South Africa, the new members include Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia. Representatives from other countries in the Global South and East, eager to collaborate with BRICS, will also attend. The event will feature participants from 36 countries, six international organizations, and UN Secretary-General António Guterres.
Ahead of the summit, Russian President Vladimir Putin expressed confidence in the future of BRICS, highlighting shared values and a common understanding of how member states should engage with one another. Putin is set for about 15 bilateral meetings on the sidelines of the summit, along with participating in plenary events, which will keep his schedule extremely busy.
Russian Foreign Minister Sergey Lavrov also has a packed agenda with bilateral and multilateral meetings with international partners in Kazan.
Main Topics
According to the Kremlin, the summit will feature both closed and expanded sessions. Leaders will exchange views on pressing global and regional issues and discuss three key areas of cooperation outlined by Russia’s chairmanship: politics and security, economic and financial cooperation, and cultural-humanitarian exchanges.
In their first closed session on October 22, BRICS leaders will address the world's most critical conflict zones, including the situation in Ukraine. Both Brazil and China are expected to present their perspectives on these conflicts.
The summit will also focus on expanding BRICS by introducing a new category for “partner states.” Reports from key BRICS institutions such as the New Development Bank, Business Council, Interbank Cooperation Mechanism, and Women's Business Alliance will also be presented.
Expansion and Challenges
Russia's chairmanship has focused on integrating the five new members—Egypt, Iran, Ethiopia, Saudi Arabia, and the UAE—into BRICS. However, this year also brought organizational challenges, as at least 30 other countries expressed interest in collaborating with the group. To address this, a new “BRICS Partner States” category is being developed, a logical extension of the BRICS outreach format that involves external participants.
Fifteen countries are currently being considered for this partner status, but Putin’s aide Yuri Ushakov emphasized that expanding BRICS too quickly could dilute its effectiveness. The summit’s final document will be critical in proving that expansion has strengthened, rather than weakened, BRICS, enhancing its influence while maintaining its internal cohesion.
Developing a SWIFT Alternative
One of the most closely watched areas of BRICS cooperation has been the development of alternative financial tools. Putin confirmed that BRICS is working on a financial information exchange system between central banks to function as an alternative to SWIFT.
While some BRICS countries are enthusiastic about a new payment mechanism, others remain skeptical. Nonetheless, discussions continue, driven by the awareness that the dominance of the US dollar has become a tool of coercion, allowing the US to pressure other countries with the threat of secondary sanctions.
BRICS has also promoted the use of national currencies in mutual settlements, a topic that will likely receive attention during the summit.
Russia has been actively developing the economic dimension of its BRICS cooperation. Recently, Putin appointed his deputy chief of staff, Maxim Oreshkin, as his special representative for BRICS cooperation and the New Development Bank.
A New Pole of Power
Andrei Koshkin, head of the Department of Political Science and Sociology at the Plekhanov Russian University of Economics, described the Kazan BRICS summit as “a unique phenomenon.” Amid Western sanctions and isolation efforts, Russia is hosting a forum attended by representatives from over 30 countries, including more than 20 heads of state, such as Chinese President Xi Jinping. The event, he said, highlights the formation of a new pole of global power, bringing together around two-thirds of the world's population.
Koshkin contrasted BRICS with the G7, stating that while BRICS is a rapidly evolving platform uniting the East and Global South, the G7 is dominated by the US, a hegemon that “extracts” from its allies rather than supporting them. In contrast, BRICS, he said, offers a “concert of unity” for countries forming a new power center.
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Photo: Egor Aleev/TASS
Based on TASS materials