Russian President Vladimir Putin sent messages to the West with whom he is in conflict over Ukraine and facing harsh sanctions. He also sent encouraging messages to partners in other regions during the opening of the BRICS summit in South Africa.
Russian President Vladimir Putin-Image Source: Sky News
Putin’s remarks were made via closed-circuit television as he did not attend the summit in Johannesburg, South Africa due to an international arrest warrant. He made the following statements at the summit:
Messages to the West:
- Getting rid of the dollar as a global currency is an irreversible matter.
- We are working on finding better financial mechanisms, detached from Western mechanisms, as BRICS countries reduce their dependence on the dollar.
- This summit aims to discuss various issues regarding the transition to using our local currencies in our financial transactions between the five of our countries (BRICS nations).
- The New Development Bank (affiliated with the group) has become a reliable alternative to Western financial institutions, and it plays an important role in enhancing economic integration among group countries.
- Cooperation within the BRICS group is based on mutual respect, and investment in member countries has increased six-fold.
- Western sanctions hinder Russian food supplies and financial transactions.
- There are challenges ahead for the BRICS group, such as energy price fluctuations and irresponsible behavior by several countries.
Messages on Africa and the grain agreement:
- Putin confirmed that Russia will continue to provide food needs to countries in need, especially in Africa.
- Russia remains a reliable source of food for Africa and will continue to be so.
- We are capable of compensating for Ukrainian grain exports due to this year’s good production.
- We will not return to the grain agreement without meeting Russian demands.
- Russia is prepared to distribute Russian fertilizers held in Western ports for free.
Summit duration and agenda:
- The BRICS summit includes 5 economies: Russia, Brazil, India, China, and South Africa, and it lasts for 3 days.
- This summit is the first face-to-face meeting of the group’s leaders since the coronavirus pandemic, with the exception of Putin, who spoke via video.
- The five BRICS countries must agree on the standards for new members before accepting any country, which Moscow and Beijing prefer due to tensions in their relationship with the West.
