How BRICS Could Break Free from Western Sanctions!

The 16th BRICS summit is shaping up to be a pivotal moment in global diplomacy, particularly for Russia, as President Vladimir Putin hosts the event amidst escalating tensions with the West. Set against the backdrop of the ongoing conflict in Ukraine and an international arrest warrant for Putin, the summit aims to showcase the resilience of the BRICS coalition (Brazil, Russia, India, China, and South Africa) and its growing influence as a counterbalance to Western dominance in world affairs. With the participation of over 32 countries, including new and aspiring members like Saudi Arabia and Turkey, this year’s BRICS gathering underscores the group’s ambitions to reshape the global order.

Russia’s Strategic Pivot Amid Sanctions and Isolation

The summit is not just about diplomacy; it’s a strategic opportunity for Russia. As Western sanctions continue to impact its economy, Russia is seeking to solidify alliances within the BRICS framework, which has evolved into a platform where countries can trade and collaborate without the looming threat of sanctions from the West.

Yuri Ushakov, an aide to Putin on foreign policy, emphasized the significance of the summit, calling it potentially “the largest foreign policy event ever hosted in Russia.” Putin’s ability to bring together leaders from countries like China, India, Turkey, and Iran—despite the geopolitical isolation efforts by Western powers—signals that Moscow still holds considerable sway on the global stage.

For Putin, this summit represents a personal and political victory. The presence of high-profile leaders such as China’s Xi Jinping and India’s Narendra Modi not only underscores his continued relevance but also highlights the failure of Western efforts to fully isolate Russia diplomatically.

The Growing Importance of BRICS in the Global Economy

The BRICS coalition has steadily grown in influence since its inception. Originally formed in 2006 by Brazil, Russia, India, and China, the group expanded in 2010 with the inclusion of South Africa, becoming BRICS. Today, the group represents around 3.5 billion people—roughly 45% of the world’s population—and its combined economies exceed $28.5 trillion, accounting for approximately 28% of the global economy.

BRICS aims to challenge the dominance of Western-controlled financial institutions like the International Monetary Fund (IMF) and the World Bank. The group’s New Development Bank, launched in 2014, was created to finance infrastructure projects and support the economic growth of emerging markets. Recent additions to BRICS, including Egypt, Ethiopia, Iran, and the UAE, highlight its appeal to countries looking for alternatives to the Western-dominated financial system.

Alexander Gabuyev, director of the Carnegie Russia Eurasia Center, explained that Russia’s goal is to create a trading platform free from Western sanctions. “The Russian idea is that if you create a platform on which there is only China, Russia, India, Brazil, and Saudi Arabia, the U.S. will not be ready to go after this platform and sanction it,” Gabuyev said. This would give Russia and its allies more “breathing space” amidst increasing Western pressure.

A Voice for the Global South

A key theme of the 16th BRICS summit is the coalition’s role as a voice for the Global South. Raymond Matlala, Chairman of the South African BRICS Youth Association, expressed confidence in BRICS’ potential to act as a platform for emerging economies. “BRICS is the voice of the Global South on multilateral platforms where the West dominates,” Matlala said. This sentiment is echoed by many in the BRICS community, who believe that the coalition can provide an alternative path for developing countries seeking to escape the dominance of Western powers in global affairs.

The addition of countries like Saudi Arabia, Turkey, and Mongolia to the BRICS fold would further strengthen this narrative. If Saudi Arabia were to join, for instance, BRICS members would collectively produce about 44% of the world’s crude oil—a significant shift in global energy markets that could challenge the West’s influence over this critical sector.

Challenges and Future Growth

Despite its growing influence, BRICS still faces challenges. Saudi Arabia, while invited, has yet to formally join the group. Similarly, Argentina’s recent withdrawal under President Javier Milei illustrates the complexity of expanding the coalition. Nevertheless, BRICS’ potential for further growth is undeniable, and the Kazan summit could pave the way for new members and deeper integration among existing ones.

As the world watches the 16th BRICS summit unfold, the coalition’s ability to offer an alternative to Western economic and political dominance will be tested. For Russia, this event is not only about strengthening alliances but also about demonstrating its continued relevance in global affairs. For other BRICS members, it is an opportunity to enhance their influence on the world stage, promote their economic interests, and further the cause of the Global South.

Conclusion

The 16th BRICS summit marks a crucial moment for the coalition and its members. As BRICS continues to expand and assert itself as a counterbalance to Western influence, the outcomes of this summit could reshape global alliances and economic strategies. With Russia at the helm, the summit signals a defiance against Western sanctions and isolation efforts, while also highlighting the growing appeal of BRICS as a platform for emerging markets. As the coalition seeks to redefine the global order, the future of BRICS could have profound implications for international politics, trade, and economic power dynamics.