Putin calls for stronger ties with BRICS nations
2 Min Read
The Russian President affirms that Moscow is redirecting its trade flows and external economic contacts toward reliable international partners.
-
Russian President Vladimir Putin
Russian President Vladimir Putin called for closer ties with the influential BRICS club of emerging economies on Wednesday, amid unprecedented Western sanctions imposed over Ukraine.
"Businessmen of our countries are forced to develop their business under difficult conditions where Western partners neglect the basic principles of market economy, free trade, as well as the inviolability of private property," Putin told a BRICS business forum via video link.
On the eve of a virtual BRICS (Brazil, Russia, India, China, and South Africa) summit, Russian President Vladimir Putin condemned "the permanent implementation of new politically motivated sanctions" that contradict "common sense and basic economic logic."
The Russian President went on to say that Moscow is "actively redirecting its trade flows and external economic contacts towards reliable international partners, above all the BRICS countries."
It is worth noting that the Russian President has been defiant in the face of Western sanctions, seeking new markets, not to mention strengthening ties with African and Asian countries.
Elsewhere in his remarks, Putin stated that talks were ongoing regarding the "opening of Indian chain stores in Russia and increasing the share of Chinese automobiles" on the Russian market.
"Russian oil deliveries to China and India are increasing. Agricultural cooperation is developing dynamically" as is the export of Russian fertilizer to BRICS countries, he added.
The Russian leader concluded by saying that Moscow is also developing "alternative international transfer mechanisms" with BRICS partners and an "international reserve currency" to reduce dependence on the dollar and euro.
Earlier today, Chinese President Xi Jinping warned against "expanding" military ties. The speech came ahead of a virtual summit that included top leaders from Russia, India, Brazil, and South Africa.
The BRICS summit, which is hosted in Beijing, holds BRICS countries' emerging economies, which make up almost 25% of the world's GDP and 40% of the planet's population.
Read more: BRICS countries launch joint committee on space agency cooperation
