Russian Goals for BRICS: Then and Now

... bipolar world” and “BRICS breaks the chains of the dollar.” To be sure, writers from other BRICS countries have taken similar approaches – one Indian official wrote that the bank has broken “the monopoly status” of the Bretton Woods institutions. But while other BRICS may revel in the symbolism of their new institutions, it is Russia who faces potential isolation from the dominant international system, and for whom BRICS may turn out to be an international lifeline. This was not what Russian leaders had in mind when they proposed the first meeting of the-then BRIC foreign ...