Vladimir Putin is showcasing Russia's resilience and alliance-building efforts on the global stage with the BRICS summit taking place this week in Kazan. The gathering of over 20 heads of state is seen as a strategic maneuver to show the West, which has labeled Russia as a pariah due to its invasion of Ukraine, and has imposed sanctions aimed at crippling its economy, just how unfazed Moscow remains under pressure.
Among the prominent leaders attending are China's Xi Jinping, Indian Prime Minister Narendra Modi, and Iranian President Masoud Pezeshkian. The Kremlin has heralded this summit as one of the "largest-scale foreign policy events ever" for Russia, effectively delivering the message, as Chris Weafer, founding partner of Macro-Advisory consultancy, puts it, "that attempts to isolate Russia have failed." He notes, "While there are severe cracks beneath the surface, geopolitically, Russia still has friends."
The BRICS bloc, initially comprising Brazil, Russia, India, China, and South Africa, has expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates, alongside Saudi Arabia's recent invitation. This coalition accounts for around 45% of the global population, with combined economies valued at over $28.5 trillion, translating to roughly 28% of the world economy.
With more than 30 other countries expressing interest in joining BRICS or strengthening ties, sentiments at the summit are likely to portray BRICS as the voice of the "global majority." Yet, amid the favorable optics, serious questions linger about the summit’s actual effectiveness. Putin's primary ambition centers on persuading BRICS nations to develop alternatives to the US dollar for global transactions, which could lessen the impact of Western sanctions on Russia.
“The troubles within Russia’s economy stem mostly from trade and payment systems significantly tied to the US dollar,” Weafer explains. “The US Treasury wields incredible influence simply because the dollar is the dominant currency worldwide. If Russia can forge trade mechanisms outside of G7 currencies, it could mitigate the sanctions' impact.”
Challenges are evident, though—internal dissent continues to smart within BRICS. According to former Goldman Sachs Chief Economist Jim O’Neill, “it’s unfortunate for the West,” noting how the historical tensions between countries like China and India often prevent substantial cooperation, lowering BRICS' potential impact on global issues. He emphasizes, “If those two could agree, BRICS would be enormously influential.”
Internal tensions don’t stop there. Egypt and Ethiopia have had their share of disputes, and regional rivalries persist between Iran and Saudi Arabia. O’Neill dismissively states the chances of them reaching any significant consensus is unlikely, saying, “The concept of them agreeing on anything substantial is simply unrealistic.”
Yet, even with these fractures, the picture Putin aims to project at the Kazan summit is one of unity and cooperation. He is likely to gloss over these differences, presenting Russia as being far from isolated, striving instead to connect strategically with global partners. But as other BRICS nations maintain ties with the West, it becomes apparent just how tenuous this supposed united front is.
While the Kremlin focuses on anti-Western rhetoric and building what it calls a "new world order," leading BRICS members like India prefer to walk the line of maintaining cordial relations with the West, complicative Putin’s ambitions for the summit. The task before Putin, then, will be to unify the narrative—a towering challenge, to be frank, especially with such disparate interests at play.
Nevertheless, Russia views this summit as instrumental not only for its foreign policy image but as part of its broader economic survival strategy amid sanctions. With the world watching, the results from Kazan could have far-reaching ramifications, both for Russia and its global alliances.
