Russia and China are deepening cooperation to strengthen the role of the BRICS economic bloc in global governance and to push for reforms in the international financial system, Russian President, Vladimir Putin, has said.
In an interview with China’s Xinhua news agency ahead of his state visit to Beijing, Putin described BRICS as a “key pillar of global architecture” and highlighted the joint efforts by Moscow and Beijing to ensure the bloc plays a larger role in shaping world affairs.
“We stand united in strengthening BRICS’ ability to address pressing global challenges, share similar views on regional and international security, and take a common stand against discriminatory sanctions that hinder the socioeconomic development of BRICS members and the world at large,” Putin said.
Trump has previously threatened an additional 10% tariff on all #BRICS nations, accusing the bloc of trying to “destroy the #dollar as the global standard.” https://t.co/dNpvahuRXP
— BitKE (@BitcoinKE) July 18, 2025
Sanctions and the Call for a New Financial System
Russian President, Putin, emphasized that Russia and China are working to reform global financial institutions such as the IMF and the World Bank in order to create a new, equitable financial system. This, he argued, would end the use of finance as an instrument of neo-colonialism and discriminatory sanctions — tools that have increasingly targeted BRICS nations and their partners.
According to Putin, the proposed new system must be based on “openness and true equity, providing equal and non-discriminatory access to its tools for all countries and reflecting the real standing of member states in the global economy.”
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“We have noted a frenzy of people going out to the media saying we are discouraging the use of the dollar. That is not the case; we just want to reinforce the law,” said the Governor… pic.twitter.com/wF7bJfKpwB
— BitKE (@BitcoinKE) July 31, 2024
This aligns with ongoing BRICS discussions around de-dollarization and the creation of alternative payment systems that can reduce reliance on the U.S dollar and Western-controlled financial rails – a trend BitKE has consistently highlighted as part of Africa’s growing role in BRICS and the push for a multipolar world order.
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The de-dollarization initiative is probably the most concrete proposal likely to emerge from the summit.https://t.co/we8YfpJ3zI pic.twitter.com/9wZkwP0yHs
— BitKE (@BitcoinKE) October 25, 2024
Toward a Multipolar World
Putin added that Russia and China “share broad common interests and strikingly similar views on fundamental questions,” including the vision of a just, multipolar world order that gives greater voice to the “Global Majority.”
His official visit to China, running from August 31 to September 3, will include participation in the Shanghai Cooperation Organisation (SCO) summit in Tianjin, Victory Day events in Beijing, and bilateral talks with Chinese President Xi Jinping.
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He is also expected to meet Indian Prime Minister Narendra Modi, another founding member of BRICS.
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Today, the United States imposes 3x as many sanctions as any other country or international body, targeting a third of all nations with… pic.twitter.com/CgNGZvvUNK
— BitKE (@BitcoinKE) July 31, 2024
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