Russia in Global Affairs

Eighty years after Yalta, here’s why it can’t be repeated.

Trump's aggressive stance underscores a broader strategy to reassert U.S. dominance in global trade and finance. By leveraging tariffs as a punitive measure, the administration aims to deter developing nations, both fast-developing and still underdeveloped, from pursuing economic policies that could dilute the dollar's supremacy. However, this approach could trigger retaliatory measures.

The sixteenth annual BRICS summit was held in Kazan, Russia, on October 22-October 24. 2024. What was new and innovative at the summit this year, and how the bloc is changing the geopolitical context? Six Council of Councils experts from BRICS member countries and beyond reflect on the future of the group and what expansion means for global governance. Fyodor Lukyanov is among them.

The group’s success means that the West is no longer totally in control of international systems.

By connecting different developing regions around the world, BRICS can really present itself as an alternative rule-maker in global governance, based on UN rules.

Russia’s trajectory towards establishing a BRICS plus Africa Energy Order underlines its strategic pivot towards the development of a new global energy order, mainly by encompassing the fast-developing and developing nations worldwide.

The architects of the current global governance system have failed the world. Not only didn’t they redeem the sins of their ancestors, but we now have the leaders of the richest club in the world convening every year preaching to the rest of the planet about the rules-based order, while the rules are treated like tissues from a Kleenex box, usable at times but discarded when inconvenient.

The confrontation between Russia and the West is intensifying but not changing in quality. Major changes have occurred in the part of the world that is not involved in the conflict but affected by it. The World Majority becomes increasingly convinced that the influence of those who have long dictated the rules in the international arena is declining.

The decisions made at the 15th BRICS Summit in Johannesburg are likely to lead to the group’s revolutionary transformation. It is yet to be seen how effective and viable the new composition will be. However, it is already evident that doubling the number of participants will complicate consensus decision-making.