BRICS Summit In Russia: Putin's Strategic Return To The World Stage

(MENAFN- Jordan Times) The recent BRICS summit held in Russia from October 22 to 24 in Kazan was a significant Political move, marking the largest gathering hosted by President Vladimir Putin since the 2022. Amid the political and economic tensions, the presence of 36 countries, including high-profile leaders from China, India and Iran, underlines the bloc's strengthened resolve to foster global multipolarity and reduce reliance on Western-dominated institutions.

Perhaps most striking was the attendance of UN Secretary-General Antonio Guterres, despite widespread disapproval from Western nations. This move, which infuriated many Western countries, notably Ukraine, reflects a widening ideological gap. Although the International Criminal Court issued a warrant for Putin's arrest in March 2023, Guterres accepted Russia's invitation, stating his intent to emphasise the UN's position on the conflict in Ukraine. His appearance signals the UN's diplomatic commitment to maintaining dialogue with all major geopolitical players, despite the inherent controversy.

The Kazan meeting underscored BRICS' continued economic and strategic evolution. Together, the bloc comprises over 40 per cent of the world's population and approximately a quarter of the global GDP, positioning it as a central force for economic collaboration and regional influence. As the host, Russia brought forward a strong message of defiance against Western sanctions and the BRICS bloc collectively explored alternatives to bypass the SWIFT system, critical to the Western financial structure. Developing such financial infrastructure is a pivotal step towards economic independence and a safeguard against sanctions for BRICS and its allies.

Furthermore, the inclusion of regional allies such as Iran, alongside countries from Africa, Asia and Latin America, reinforces BRICS' intention to establish a global network that aligns with their vision for a multipolar order. The bloc's long-standing commitment to infrastructure investment, trade and alternative energy sourcing has been an attractive model for emerging economies. By reducing their dependency on Western markets and trade routes, these countries gain strategic autonomy, underscoring the growing appeal of the BRICS vision for multipolarity.

The UN Secretary-General's attendance, even with strong Western opposition, highlights a growing acknowledgment of BRICS as a legitimate counterbalance to the current unipolar system. This move may set a precedent for other international organisations to engage more openly with BRICS and similar blocs, effectively loosening the grip of the West-led order.

The Kazan summit underscores that BRICS' ambition is more than symbolic. It represents a deliberate strategy to reshape global economic and political norms, creating a framework where diverse political interests can co-exist without Western mediation. As BRICS continues to consolidate its partnerships and strengthen its influence, it sets the foundation for a new era of multipolarity, one that may redefine global alliances and strategic priorities in the decades to come.

Another notable takeaway from the Kazan summit is the role of energy diplomacy within BRICS. As the global energy market experiences volatility, BRICS members have capitalised on their combined energy assets, from Russia's substantial oil and gas reserves to Brazil's growing biofuels market, to create a self-sustaining energy economy. The discussions highlighted a commitment to deepening energy partnerships both within the bloc and with other resource-rich countries, aiming to reduce dependency on Western energy systems. By expanding partnerships across Africa, the Middle East and Latin America, BRICS is positioned to build a cooperative network that meets growing energy needs independently of Wes tern control.

Financially, the BRICS bloc has also championed the development of a digital currency and an integrated payment system that could reduce reliance on the SWIFT system, which is currently dominated by Western financial institutions. This digital currency initiative aligns with the broader goals of the New Development Bank (NDB), BRICS' financial institution designed to support infrastructure and sustainable development projects within member and allied states. The NDB's continued growth and expansion of membership show BRICS' willingness to provide an alternative source of capital, which could be especially beneficial for emerging economies facing financial exclusion or high borrowing costs from Western institutions. If successful, the digital currency and alternative payment systems could erode the monopoly of the US dollar in international trade, marking a significant shift in global finance.

The political underpinnings of the summit also cannot be overstated, as BRICS attempts to provide a platform for political discourse outside the Western-led UN structure. The inclusion of countries like Iran, often isolated by Western sanctions, signals a broader agenda of challenging what BRICS sees as inequitable power dynamics in global governance. This drive towards an inclusive world order reflects a core philosophy of BRICS, prioritising sovereignty and regional cooperation over the unipolar structure dominated by the West. By forging alliances and strategic partnerships with countries from diverse political and economic backgrounds, BRICS is not only bolstering its geopolitical influence but also laying the groundwork for a multipolar system that could redefine the world's power balance.

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