Russian Goals for BRICS: Then and Now

... had not succeeded in mounting a clear challenge or response. Although the agreements are only the first step – the bank is not expected to be operational until 2016 – they mark a clear turning point in the development of the group. For Russia, this small success could not come at a more needed time. In much of the Russian press, the BRICS summit was described in glowing terms, with headlines such as “BRICS: a step towards a bipolar world” and “BRICS breaks the chains ...