Putin Highlights De-Dollarization At BRICS Summit
Russian President Vladimir Putin addressed the ongoing BRICS Summit via video link, emphasizing the dwindling significance of the US dollar on the global stage. Speaking on the alliance’s pursuit of a “global majority” focus and its strides in de-dollarization, Putin’s remote participation from Russia marked a crucial moment in the two-day summit hosting over 40 world leaders.
JUST IN: 🇷🇺 Russian President Putin says US dollar is losing its global role in an "objective and irreversible" process.
— Watcher.Guru (@WatcherGuru) August 22, 2023
De-Dollarization Talks
As global attention remained fixated on the Johannesburg summit, the event’s implications for the bloc’s trajectory were undeniable. Discussions surrounding currency dynamics and expansion plans held the potential to reshape the collective’s future profoundly.
Putin’s remarks centered on the diminishing role of the US dollar, characterizing the process as “objective and irreversible.” The sentiment was captured by Reuters in a released statement, where Putin noted, “The objective, irreversible process of de-dollarization of our economic ties is gaining momentum.” This assertion echoed a growing sentiment in global economic circles, reflecting concerns over the dollar’s dominance.
Equitable Alliances at BRICS
The President also underscored the alliance’s cooperative spirit and its pursuit of a future rooted in equitable partnerships and mutual respect for interests. He remarked, “We cooperate on the principles of equality, partnership support, and respect for each other’s interests, and this is the essence of the future-oriented strategic course of our associate, a course that meets the aspirations of the main part of the world community, the so-called global majority.”
Read More: Jury Sets Guidelines In Sam Bankman-Fried Trial
Comprising Brazil, Russia, India, China, and South Africa, the BRICS bloc accounts for over 40% of the world’s population. Many observers anticipate that an expansion initiative might be on the horizon for the alliance, potentially broadening its influence. However, Putin refrained from directly addressing these anticipations in his statements. The BRICS Summit’s proceedings continue to unfold against a backdrop of shifting global dynamics and economic realignments. As leaders engage in discussions about bolstering the global south’s standing, the outcomes of the summit could significantly shape international economic currents and political landscapes in the near future.
