Chicago – October 24, 2024
This week, Russian President Vladimir Putin held a big meeting in Kazan, Russia, with leaders from over two dozen countries to talk about forming a “new world order” that doesn’t rely on Western power or the U.S. dollar.
The meeting, called the BRICS Summit, is the largest event Putin has hosted since the 2022 Ukraine invasion.
The countries in the BRICS group—Brazil, Russia, India, China, and South Africa—want to use different currencies instead of the dollar to avoid sanctions from the U.S. and Western nations.
During the summit, leaders like China’s President Xi Jinping and India’s Prime Minister Narendra Modi discussed improving their countries’ relations, especially after recently resolving a four-year military disagreement over a border area in the Himalayas.
India has also been helping Russia by buying its oil at a discount, which is important since many other countries won’t buy it due to sanctions.
The BRICS group is getting bigger, with new members like Iran, Egypt, and Saudi Arabia joining earlier this year. Countries like Turkey and Malaysia are also interested in joining.
With half of the world’s population and making up 35% of the world’s economy, BRICS is becoming a major group.
Russian official Yuri Ushakov said the summit was a success, with 36 countries participating and 24 sending their representatives.
