The BRICS summit may have been designed to challenge Western dominance. Two dozen world leaders, including Xi Jinping (China), Narendra Modi (India) and Recep Tayyip Erdogan, gathered in the cauldron - the event is the largest diplomatic gathering involving Russia since the start of the full-scale invasion of Ukraine.
Writes UNN with a link to France24.
The BRICS summit may be an attempt by Russia to influence the formation of an alliance of emerging economies. The Kremlin hopes that such an alliance could challenge the so-called Western “hegemony.
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Two dozen world leaders gathered in Russia for the opening of the BRICS summit. The summit is the largest such meeting in Russia since the aggressor country launched a full-scale war on the territory of Ukraine.
There is a definition that the BRICS was created to reform international financial institutions such as the IMF or the World Bank to improve the representation of emerging economies.
In 2014, the BRICS countries established the New Development Bank (NBD) with a capital of over $250 billion to lend money to developing countries.
The BRICS will be held in Kazan from October 22 to 24, and will be joined by all of Russia's key partners, including Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, and Turkish President Recep Tayyip Erdogan.
The expansion of the BRICS group is positioned as one of the pillars of Russia's foreign policy.
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UN Secretary-General Guterres to attend BRICS summit in Russian cauldron