... to test the traditionally friendly relations between Russia and South Africa. The events in Ukraine have acquired a wide international resonance, with many nations publicly discussing the hostilities. South Africa, as a projected continental leader, BRICS member and the only full-fledged African participant to the Group of 20, could not stand aside, having to formulate an official stance towards the Ukrainian crisis.
South African official position
Andrey Kortunov:
Restoration, Reformation, Revolution?...
The new geopolitical realities recalibrate the agenda for BRICS, making certain initiatives in finance or food security urgent for all member countries
The dialectics of any association’s progressive evolution entails periods of growth, agenda expansion, predominance of centripetal forces, crisis passing,...
If China’s vision of BRICS+ provides the broadest horizontal span of the Global South, Russia’s vision of BRICS+ prioritizes the depth and alignment of integrating BRICS states’ priority regional projects
Amid an unprecedented spike in global geopolitical risks, the ...
... platforms could be created on the basis of existing arrangements and economic blocs — in the case of G20 there could be a case for creating a regional R20 composed of the regional integration blocs where G20 countries are members. Similarly, for the BRICS, a BRICS+ format that brings together regional integration arrangements where BRICS economies are members provides for smaller emerging markets to deliver their contribution to the process of economic integration in the Global South.
Source:
Valdai....
... the possibility of using Chinese Yuan for settlements in lieu of Saudi’s oil deliveries to China. Back in 2017 the Valdai Club advanced
the R5 initiative
that was meant to bolster financial settlements and transactions in the national currencies of BRICS members.
An extension of this initiative was the R5+ concept that involved the extension of the use of national currencies not only to BRICS members but also to the regional partners in regional integration arrangements and the respective regional ...
The regional BRICS+ format is the only feasible platform for economic integration alliances to be finally launched among the BRICS countries after an extended period of limited economic advances in the sphere of common economic integration
The regional BRICS+ format ...
... modernization for the developing economies reside in greater economic integration, development of human capital and digitalization. For all leading developing economies there is a tremendous scope for higher growth via reducing cross-regional inequality (the BRICS economies exhibit some of the highest levels of cross-regional inequality in the world), boosting housing development as well as more broadly the services and the consumer sectors of the economy.
Another driver for elevating growth in developing ...
... with China. Last year in June, as tensions mounted at the Sino-Indian border, Russia was able to provide a channel of communication between the two parts. At the time, Moscow was chairing two crucial formats: the Shanghai Cooperation Organization and BRICS. The Kremlin thus launched a trilateral RIC videoconference, bearing in mind the notion that good relations between New Delhi and Beijing are essential to the whole Eurasian stability. Afghanistan represents another sore spot for both countries....
Barriers preventing the wider use of BRICS national currencies in trade include currency swap mechanisms and BRICS exporters' preference not to use national currencies
This article explores systemic and market barriers preventing the wider use of BRICS national currencies in trade, including ...
... take sides in this forthcoming US-China rivalry. On the contrary, it is in their best interests to confront this bipolarity and to mitigate it to the extent possible with a new emphasis on multilateralism.
India, China and Russia are all members of BRICS and of SCO; Moscow could work harder making these institutions more efficient in reaching common denominators for even highly sensitive security and development issues. There is also a separate mechanism of the Russia-India-China trilateral consultations,...
