BRICS Summit: What's at Stake as Putin Hosts Modi and Xi to Shift Global Power

Russian President Vladimir Putin hosted Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, and other global leaders at the BRICS summit, a key event aimed at countering Western dominance in global affairs. The meeting is part of Russia's broader efforts to build stronger alliances with developing economies.

Putin highlighted the summit's agenda, focusing on strengthening financial cooperation, including the development of alternatives to Western-dominated payment systems. He also emphasized the importance of resolving regional conflicts and expanding the BRICS group to include more countries.

"The BRICS strategy aligns with the aspirations of the global majority," Putin said, opening Wednesday’s session. "This is especially significant in today’s rapidly changing world, where a multipolar global order is emerging."

BRICS, originally formed by Brazil, Russia, India, China, and South Africa, has since expanded to include Iran, Egypt, Ethiopia, the UAE, and Saudi Arabia. Countries like Turkey, Azerbaijan, and Malaysia have also applied for membership, while others have shown interest in joining.

The summit, held over three days in Kazan, Russia, has brought together representatives from 36 nations, underscoring the limitations of U.S.-led efforts to isolate Russia over its role in the Ukraine conflict. The Kremlin described the event as the "largest foreign policy gathering ever hosted" by the country.

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