In Kazan, Russia, President Vladimir Putin recently wrapped up the BRICS Summit, a gathering of some of the world's largest developing economies. This event marked a significant moment for the bloc, which now includes not just the original members—Brazil, Russia, India, China, and South Africa—but also newcomers like Iran, Egypt, and Saudi Arabia. The summit focused on deepening financial cooperation and finding alternatives to Western-dominated systems, a move that Putin sees as a counter to what he called the West's "perverse methods. "

Putin's concerns centered around the tactics used by the West, such as unilateral sanctions, protectionism, and market manipulations. He argued that these tactics only exacerbate global tensions, citing Ukraine as a prime example. However, the summit also drew leaders or representatives from 36 countries, underscoring the failure of attempts to isolate Russia amid the Ukraine crisis.

One key goal of the summit was the creation of a new payment system that could bypass Western sanctions and facilitate easier trade with partners. The joint declaration from participants expressed concern over unlawful sanctions and reiterated a commitment to enhancing financial cooperation within BRICS.

Chinese President Xi Jinping, who has been a vocal supporter of BRICS, emphasized the bloc's role in ensuring global security. He proposed a peace plan for Ukraine, but it was swiftly rejected by Kyiv. Meanwhile, India’s Prime Minister Narendra Modi has avoided condemning Russia’s actions, choosing instead to emphasize a peaceful resolution.

The summit also saw Putin meeting with U. N. Secretary-General António Guterres, who urged an immediate end to conflicts in several regions, including Ukraine. Despite the international tensions, the Kremlin hailed the summit as a major political victory, highlighting that BRICS countries represent about half the world's population.

The BRICS Summit: A New Global Stage, Hosted by Putin

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