Russian President Vladimir Putin has asserted that Moscow and Beijing are “united in strengthening” the BRICS grouping to address global issues, including showing opposition to “discriminatory sanctions” which he claims are impeding the socioeconomic development of member states and the broader international community.
In an interview with Xinhua News Agency, ahead of the upcoming 25th Shanghai Cooperation Organisation (SCO) Summit taking place in the Tianjin municipality of China, the Russian President underlined the deepening cooperation between the two nations within multilateral platforms, emphasising their role in transforming BRICS into a “key pillar of global architecture” and supporting reforms in global financial institutions.
“We are working closely with China within BRICS to expand its role as a key pillar of global architecture. Together, we advance initiatives aimed at expanding economic opportunities for member states, including the creation of common platforms for partnership in strategic sectors,” Putin said, as quoted by Xinhua News Agency.
“We stand united in strengthening BRICS’ ability to address pressing global challenges, share similar views on regional and international security, and take a common stand against discriminatory sanctions that hinder the socioeconomic development of our members and the world at large,” he added.
The Russian President is currently in China to participate in the 25th SCO Heads of State Council summit, taking place from August 31 to September 1. During the summit, he is expected to hold bilateral talks with Prime Minister Narendra Modi on the sidelines.
During the interview with Xinhua News Agency, Putin reiterated support for reforming the International Monetary Fund (IMF) and the World Bank, calling for a “new financial system” based on “true equity” and equal access for all nations.
The Russian President further criticised the use of financial tools as a form of “neo-colonialism” and said BRICS seeks inclusive progress benefitting the “Global Majority”.
“Alongside our Chinese partners, we support the reform of the International Monetary Fund and the World Bank. We are united in the view that a new financial system must be based on openness and true equity, providing equal and non-discriminatory access to its tools for all countries and reflecting the real standing of member states in the global economy. It is essential to end the use of finance as an instrument of neo-colonialism, which runs counter to the interests of the Global Majority. On the contrary, we seek progress for the benefit of all humanity,” Putin stated, as quoted by Xinhua News Agency.
Putin also praised China’s role within the G20, during his interview with Xinhua News Agency, noting that together with other like-minded nations, Russia and China have contributed to shifting the group’s agenda to reflect the priorities of the Global South. He welcomed the inclusion of the African Union in the G20 framework, calling it a step toward “deepening synergies” between BRICS and other global groupings.
“Within the G20, together with like-minded nations, and especially BRICS members, we have redirected the agenda towards issues of real importance to the Global Majority, strengthened the format by including the African Union, and deepened the synergies between the G20 and BRICS,” he said, as quoted by Xinhua News Agency.
