The 2024 BRICS Summit, set to be hosted by Russian President Vladimir Putin in Kazan from October 22-24, could be the most significant one yet as Russia aims to prove it is far from isolated on the world stage. With new members Egypt, Iran, Ethiopia, and the UAE joining the original bloc of Brazil, Russia, India, China, and South Africa, this expanded BRICS+ signals a growing coalition challenging Western dominance in global trade and politics.
The summit, coming amid Russia’s war in Ukraine and growing tensions between China and the U.S., is a bold statement from Moscow. Putin seeks to use BRICS as a counterbalance to the West, showcasing that Russia still has powerful allies despite sanctions. The BRICS nations now represent 45% of the world’s population and over $28.5 trillion in combined economic output, positioning the bloc as a significant force in global affairs.
Key topics include reducing reliance on the U.S. dollar in global trade, with discussions about creating a BRICS currency, and increasing internal trade within the bloc. For Russia, BRICS has been a lifeline, helping to sustain its economy through partnerships with China and India amidst Western sanctions.
As Putin hosts world leaders, the stakes are high—not only for Russia but for the entire global order. Whether BRICS can effectively challenge the West’s dominance remains to be seen, but this summit could mark a turning point in global power dynamics.
