In a world increasingly defined by shifting alliances and mounting geopolitical tensions, Russian President Vladimir Putin has cast the BRICS alliance as a cornerstone of a new global order—one meant to counterbalance Western dominance. His remarks, delivered in a sweeping interview with China’s state-run Xinhua news agency ahead of his state visit to China, underscore not only Moscow’s strategic pivot to Asia but also the growing ambitions of BRICS as a platform for the so-called “Global Majority.”
Putin’s timing was deliberate. As he landed in Tianjin on August 31, 2025, for the Shanghai Cooperation Organization (SCO) summit, threats of 10 percent tariffs against BRICS nations from U.S. President Donald Trump hung in the air, according to The New Indian Express. The Russian leader seized the moment to frame BRICS—a bloc originally comprising Brazil, Russia, India, China, and South Africa, and now expanded to include Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates—as a force for a more equitable and multipolar world.
“Russia and China are committed to reforming the IMF and the World Bank in order to create a new financial system based on openness and true equity,” Putin told Xinhua, emphasizing the need for “equal and non-discriminatory access to financial tools for all countries.” These words resonate across the Global South, where frustrations with Western-controlled financial institutions have simmered for decades. Emerging economies have long criticized the International Monetary Fund and World Bank for imposing conditions that reflect Western interests more than the developmental needs of borrowing nations.
Putin’s critique of the current international financial system was direct. He labeled the IMF and World Bank as “tools of Western economic dominance,” echoing complaints that have grown louder in the wake of debt crises in Africa, Latin America, and parts of Asia. For many, the creation of alternatives like the Shanghai-headquartered New Development Bank (NDB) and the Contingent Reserve Arrangement by BRICS represent tangible steps toward a new financial architecture—one less tethered to the U.S. dollar and Western priorities.
“We seek progress for the benefit of all humanity. I am confident that Russia and China will continue to work together towards this noble goal, aligning our efforts to ensure the prosperity of our great nations,” Putin declared, as reported by The New Indian Express. The sentiment is not merely rhetorical. In recent years, Russia and China have deepened their cooperation in multilateral organizations, from the United Nations to the G20, and now within the expanded BRICS and SCO frameworks. Their alignment is driven in part by shared grievances: both have faced sanctions and security competition from the West, and both see value in presenting themselves as champions of sovereign equality and collective decision-making.
Putin’s visit to China, running from August 31 to September 3, 2025, was packed with symbolism and substance. It began with his participation in the SCO summit in Tianjin, where regional security and economic issues dominated discussions. The summit’s appeal, Putin noted, lies in its “simple but powerful principles: a firm commitment to its founding philosophy, openness to equal cooperation, not targeting third parties, and respect for the national characteristics and uniqueness of each nation.” He added, “Drawing on these values, the SCO contributes to shaping a fairer, multipolar world order, grounded in international law, with the central coordinating role of the United Nations.”
The Russian president’s itinerary also included attendance at China’s Victory Day parade in Beijing, commemorating the 80th anniversary of victory against Japan in World War II. This gesture was more than ceremonial; it signaled the deepening historical and cultural ties between Russia and China, as well as their shared interest in challenging Western narratives of global leadership.
But the BRICS alliance is not without its internal complexities. Putin planned bilateral talks with Chinese President Xi Jinping and Indian Prime Minister Narendra Modi during his visit. While Russia and China present a united front, India remains wary of Beijing’s ambitions and continues to cultivate strong ties with the United States and Europe. Yet, as BBC and other outlets have noted, BRICS provides New Delhi with a platform to assert its own vision of multipolarity—balancing its partnerships while maintaining its independence.
Putin’s outreach to Modi reflects Moscow’s desire to keep India engaged in the BRICS framework, even as New Delhi charts its own course. By presenting BRICS as a multipolar rather than a China-dominated initiative, Russia seeks to reassure India and other members that the bloc serves the collective interests of the Global South. The inclusion of new members like Saudi Arabia, Egypt, and the UAE in the expanded BRICS+ format only adds to the bloc’s diversity and potential influence. Collectively, BRICS now accounts for more than 40% of the world’s population and a steadily rising share of global GDP.
Amid these ambitions, the practical challenges are formidable. The establishment of a new financial architecture—one capable of rivaling the IMF and World Bank—requires not just institutional innovation but also political trust among countries with sometimes divergent interests. India’s hesitancy to align too closely with China, Brazil’s focus on regional leadership in Latin America, and internal differences among Middle Eastern members could all complicate consensus. Still, the momentum is hard to ignore. The NDB, the Contingent Reserve Arrangement, and discussions about a common BRICS payment system all point to a gradual but determined effort to reduce dependence on Western-controlled institutions.
Putin’s remarks also highlighted the alliance’s resistance to what he called “discriminatory sanctions” that hinder the socioeconomic development of BRICS members—a clear reference to Western sanctions levied in the wake of the Ukraine conflict. “Russia and China take a common stand against discriminatory sanctions that hinder the socioeconomic development of BRICS members and the world at large,” he told Xinhua. The timing of these comments—just as President Trump threatened new tariffs—underscored the sense of siege felt by many in the bloc.
For the Global South, which has often felt marginalized in global decision-making, the rise of BRICS offers both hope and uncertainty. The bloc’s rhetoric of inclusivity and fairness resonates, especially in the aftermath of the COVID-19 pandemic, climate financing shortfalls, and ongoing debt crises. Yet, as the world watches, the question remains: Can BRICS translate its lofty vision into concrete action?
Putin’s state visit to China, and his rallying call for a new economic order, mark a pivotal moment in the evolving global landscape. BRICS, once seen as a loose coalition of emerging economies, is now positioning itself as an indispensable player in shaping the future of international relations. Whether it can deliver on its promises is still an open question, but the challenge to Western dominance is unmistakable—and the world is watching closely as the balance of power continues to shift.