The Importance of BRICS For Russia

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Source: Reuters Photo

BERITAKUTIM.COM,- The initial BRICS cooperation began in 2001 under the name BRIC, an acronym coined by Goldman Sachs for Brazil, Russia, India, and China. It later became BRICS after the addition of South Africa in 2010. The primary mechanism behind the formation of BRICS is to promote peace, security, development, and cooperation. Furthermore, BRICS aims to make a significant contribution to the development of a more just and equitable world.

Amid  the current global economic crisis, many other countries view BRICS member countries  as  new  drivers  of  global  economic  growth.  This  is  evident  in  BRICS  trade  and investment  in  low-income  countries,  which  have  become  a  key  support  system  for  their economies amidst the current global financial crisis. This raises the question of how important is BRICS for Russia today?

Since Russia’s severing of relations with the West in 2014, Russia has reoriented its focus toward  non-Western  institutions  to  strengthen  its  efforts  to  dismantle  the  post-Cold  War Western dominance. This step was also driven by economic incentives and Russia’s need to meet national development goals. In this regard, we can view it from the perspective of the concept of national interest.

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However, this does not rule out the possibility that definitions of national interests may shift  depending  on  the  stance  taken,  such  as  idealism  versus  realism,  long-term  versus short-term   concerns,   and   traditional   versus  individual  concerns.  National  interests  also determine long-term and short-term foreign policy efforts.

The existence of the BRICS has become an integral part of Russia’s efforts to pursue its national interests without Western influence. This is reflected in the 2013 agreement on the Concept of the Russian Federation’s Participation in the BRICS. The agreement identifies the BRICS as its primary long-term foreign policy vector. This can be seen in the inclusion of Russia’s strategic goals in the BRICS: 

  • Reforming the   international   monetary   and   financial  system  to  facilitate  Russianeconomic growth
  • Expanding foreign policy cooperation with BRICS members
  • Using BRICS participation to improve Russia’s foreign policy and strengthen Russia’s position in the international arena
  • Promoting bilateral relations with member states
  • Expanding Russia’s cultural presence globally
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Looking at the BRICS’ performance in recent years, we can see how it performs not only at  routine  meetings  but  also  through  regular  interactions  covering  trade,  finance, security, health, and agriculture. Some key areas of BRICS activity that can be seen in the form of tangible results  include  monetary  system  reform,  ensuring  compliance  with  established trade rules within   the   BRICS,   developing   complementary   economic   cooperation,  maintaining  global stability,   and   supporting   the   role   of   international   institutions   and   international   law. Furthermore, the BRICS’ free and informal nature provides advantages for Russia and indirectly allows  Russia  to  assert its position as a key actor in the emergence of non-Western global governance  structures.  Therefore,  for  Russia,  the  existence  of  BRICS  is  a  crucial  factor  in reaffirming its non-Western global aspirations in a relatively non-confrontational manner.

Many politicians and observers, particularly from the West, have criticized and refuted the  notion  that  BRICS  is  purely  theoretical  and  devoid  of  any  prospects,  making  it highly detrimental. It’s understandable why the West tries to downplay the role of BRICS, given that, from its perspective, BRICS is a cooperative alliance emerging from rival countries. However, this doesn’t discount the numerous benefits Russia derives from BRICS. As previously explained, BRICS serves as a bridge for Russia in pursuing its national interests, eliminating or severing Western influence. In this context, BRICS has become a highly useful tool.

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Writer: Salsabila