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Russian President Vladimir Putin calls for an alternative international payments system at the expanded Brics summit, aiming to reduce the US dollar's political influence. Despite concerns, little progress was reported on this front. Putin highlights the dollar's misuse as a weapon and notes that 95% of Russia-China trade is in rubles and yuan. The push for de-dollarization raises tensions, particularly among some Brics members like Brazil and India. #BricsSummit #InternationalTrade #DeDollarization

Trump’s 100% tariff recent threat to BRICS over de-dollarization falls right into the Kremlin’s trap. It means that Moscow’s narrative playbook for the Global South based on the “world majority” idea is working quite well.I wrote on this playbook for ECFR https://lnkd.in/dYwK8auz To counter the Global South aligning with Kyiv and the West on the war in Ukraine, the Kremlin has intensified its outreach to developing states since 2022 — focusing on BRICS+ and Africa. By mid-2024, it landed on a the productive narrative about the "world majority." This term frames the West-led order as unjust to non-Western nations — the biggest part of the world — with the Kremlin positioning itself as the leader for a fairer world system. To this end, the Kremlin advances 3 key elements of its playbook: anti-colonial rhetoric, calls to reform the UN, including expanding the UNSC, and efforts to create alternatives to the dollar and global payment systems. But as recent events show, these claims are empty. The Kremlin has failed to secure any practical results from its Global South partners beyond declarations. At the Kazan summit, the Kremlin’s BRICS Pay proposal found no support, especially from China with its mBridge system. Meanwhile, the last Russia-Africa conference again focused on security in space, abstract digitalization and resisting Western ideology, not economic cooperation Countries of the Global South,including India and Brazil, are disillusioned with the Western-centric world order they see as unjust. While this keeps them from aligning with Kyiv on the war, it also prevents the Kremlin from deepening partnerships or building an anti-Western axis.

The West’s Azerbaijan Question: Pragmatism over Values? Callum Fraser 18 June 2024 As Azerbaijan’s leader revels in his victory in the recent Karabakh conflict, the West faces the all-too-familiar choice of whether to engage with an unsavoury regime for geopolitical gain, or to stay true to its values in the global struggle between democracy and authoritarianism. Russia’s full-scale invasion of Ukraine is a stark reminder of the threat posed by authoritarian regimes to Western security. While Azerbaijan's policies may not directly threaten the West, its equidistant approach between Russia and Western powers raises significant concerns. As the West deepens its economic ties with yet another authoritarian state, the mirroring of errors made over the last decade is obvious, with the West indirectly financing another authoritarian state’s military ambitions. Should the West escalate its dependence on Azerbaijani fossil fuels, it risks a recurrence of the Ukraine scenario, with Armenia paying the price for Western negligence. The ongoing tension between democracy and authoritarianism may require morals to take a backseat, but the West's inconsistent adherence to its proclaimed values is exacerbating its global image problem. The consolidation of authoritarian power in the South Caucasus further erodes the foundational principles of the West, posing a direct challenge to its core values. By overlooking the risks associated with increasing economic support for another militarising authoritarian state, the West is demonstrating a failure to learn from repeated examples of authoritarian aggression. Despite Azerbaijan's displays of concern over the threat of sanctions, the West has yet to fully leverage its economic weight to incentivise stability in the region. This raises a pertinent question over the future of Western rules-based ideals: do current geopolitical tensions require a pragmatic adaptation, or is supporting democracy in an increasingly authoritarian world a cornerstone of the liberal international order? Regardless of the decision that it comes to, if the West is to survive multipolarity, its stance must be clear and consistent. Peace is beneficial for the South Caucasus, but it may not suit its most powerful politician. The chances of conflict remain high in the region as long as the West fails to learn from its mistakes.

Brazilian president urges to settle conflicts in Ukraine, Middle East Earlier, Chinese Foreign Minister Wang Yi stated during a meeting with the Brazilian president's special envoy, Celso Amorim, in New York that China, Brazil, and other countries in the Global South would establish a "Friends of Peace" platform to promote a peaceful resolution to the Ukraine crisis KAZAN, October 23/ The Ukrainian and Middle East conflicts may engulf the whole world, so it is necessary to work on their settlement, Brazilian President Luiz Inacio Lula da Silva said at an extended meeting of the BRICS Summit. "Right now, there are two conflicts ongoing that could engulf the whole world. So we need to work together toward their solution," the Brazilian leader said, speaking via video link. Earlier, Chinese Foreign Minister Wang Yi stated during a meeting with the Brazilian president's special envoy, Celso Amorim, in New York that China, Brazil, and other countries in the Global South would establish a "Friends of Peace" platform to promote a peaceful resolution to the Ukraine crisis. In May, following consultations, Wang Yi and Celso Amorim issued a six-point joint statement, which emphasized that dialogue and negotiations are the only way to resolve the Ukrainian crisis. China and Brazil proposed holding an international peace conference "at an appropriate time," with equal participation from all parties to discuss peace plans. In September, Russian Deputy Foreign Minister Sergey Ryabkov stated that Moscow welcomed the Sino-Brazilian peace initiative. #business #finance #financialservices

West’s attempts to ban cooperation with Russia ineffective — Lavrov The top Russian diplomat pointed out that "the destructive policy course of Western elites toward Russia’s isolation, including in the global information and cultural space," "has completely failed" Western countries’ attempts to ban cooperation with Russia are not stopping anyone from doing so as the initiative to isolate Russia has completely failed, Russian Foreign Minister Sergey Lavrov said at the opening ceremony of the Second Congress of the International Russophile Movement. "These days, it is clear to all sober-minded people that attempts by Western capitals to ban cooperation with Russia are not stopping anyone besides their instigators, and you have contributed to this as well," Lavrov told the congress attendees. The top Russian diplomat pointed out that "the destructive policy course of Western elites toward Russia’s isolation, including in the global information and cultural space," in general, the policy to cancel everything Russia-related in one way or another, "has completely failed." "The global community is sincerely interested in unbiased, comprehensive, honest assessments of the causes of current geopolitical tensions, it does not approve of the flood of misinformation and lies churned out by media outlets controlled by the collective West, at least, their overwhelming majority," he added. According to Lavrov, "Russia has multitudes of true, time-tested friends everywhere, including in the US and Europe." "And all of them not only display an interest in us but also share the values that we promote, common for all world religions and civilizations," the Russian foreign minister stressed. #business #finance #financialservices

🌍 Stay Updated with Global Affairs 🌍 In this week's roundup: 🇺🇸 Trump's latest move: Potential penalties for countries considering ditching the US dollar. 📈 China's trade with other BRICS members surges by 11.3% in Q1, highlighting growing economic ties. 💱 Russia's Deputy Foreign Minister Ryabkov sheds light on the possibility of a unified currency for BRICS, citing specific circumstances required for its realisation. 🚫 Serbia's President opts out of BRICS membership. 🌐 Mir Junaid, Jammu Kashmir Workers Party chief, champions global unity in his insightful BRICS address. 🤝 Wang Yi emphasises the importance of China and Bolivia safeguarding Global South interests amidst South American nation's appeal for BRICS support. 🌍 Russia's Deputy Foreign Minister underscores how BRICS expansion bolsters global influence, reflecting on the group's evolving role on the world stage. 🎬 Egyptian film 'RAT HOLE' shines at Russia's BRICS Film Festival, clinching the Best Actress Award and fostering cultural exchange. Stay informed, stay engaged, and embrace the dynamics of our interconnected world. #GlobalAffairs #BRICS #EconomicTrends #InternationalRelations #CulturalExchange https://lnkd.in/eRY6gM5p

Russia ready to discuss serious proposals on Ukrainian settlement — diplomat "We openly speak about all of these aspects with our Chinese friends as well as with colleagues from other global majority countries," Alexey Polishchuk said MOSCOW, April 9/ Russia is ready to discuss really substantial proposals on Ukraine that are based on Russian legitimate interests, head of the Russian Foreign Ministry’s 2nd CIS (the Commonwealth of Independent States) department Alexey Polishchuk told TASS on Tuesday. "We are open for a dialogue and ready to discuss really serious proposals based on present-day realities and our legitimate interests," he said in an interview with TASS. "Unfortunately, Kiev and the West are fixed on the so-called ‘Zelensky formula,’ continue to preparing a ‘peace conference’ in Switzerland, which is a ‘twin’ of the failed ‘Copenhagen process,’ and deceive the countries of the global South into taking part in it," the diplomat continued. "They say that Russia will also be invited. We have repeatedly stated that we will not take part in such meetings and will not discuss the obviously doomed ‘Zelensky formula’ either in general or in detail," Polishchuk stated. "We openly speak about all of these aspects with our Chinese friends as well as with colleagues from other global majority countries," he added. Russia views China's initiative on the Ukrainian conflict settlement more realistic than Ukrainian President Vladimir Zelensky's ‘peace formula,’ Polishchuk said. According to the diplomat, Moscow highly values the stance of Chinese colleagues regarding the Ukrainian crisis. "We note their sincere desire to contribute to its genuine and sustainable peaceful settlement," Polishchuk stated. "Unlike the categorical and dead-end ‘Zelensky’s formula,’ which is initially doomed to yield no results, Beijing’s initiative, based on the Chinese wisdom and dialectical approach from the overall view to details, is more realistic," he added. #business #finance #financialservices

How much of China’s behavior in the #EastChinaSea is attributable to Xi Jinping? To what extent have Sino-Japanese action-reaction dynamics been at play? How important have the hydrocarbon deposits that originally touched off the dispute been? Andrew Chubb from Asia Society Policy Institute's #CenterforChinaAnalysis answers these questions using a newly compiled dataset of both Chinese and Japanese patterns of behavior from the origins of the dispute in the 1970s to the Xi era. Chubb’s research reveals six key dynamics ⬇️ 1️⃣ The East China Sea dispute began over oil and gas resources but switched toward a contest for military and administrative control as China rapidly expanded its naval and coast guard presence in the mid-2000s. 2️⃣ China’s policy was already trending in an increasingly assertive direction well before Xi took power. China’s gray-zone assertiveness dates back to the mid-1990s, while coercive methods started in the mid-2000s. The key change Xi has overseen is China’s increasingly militarized—but also regularized—presence in the disputed area. 3️⃣ Japan has triggered several acute periods of tension with provocative moves, but China has driven the long-term arc with its shifts, from “shelving” the dispute in the 1970s to greater assertiveness in the mid-1990s to regular coercion starting in the mid-2000s. 4️⃣ The two significant periods of non–Liberal Democratic Party rule in Japan have both preceded surges of Chinese assertiveness followed by Japanese pushback, raising questions about China’s calculations regarding domestic politics in Japan. 5️⃣ Despite several high-profile propaganda campaigns and diplomatic blitzes, most of China’s moves have been in the physical domain on the water, while Japan has focused on diplomacy and domestic administrative moves. 6️⃣ Xi’s precise role in the escalation around the disputed islands remains unclear, but his centralization of power since the 18th Party Congress has coincided with a regularization of China’s assertive behaviors. A less powerful leader might, like Xi’s predecessors, find it more difficult to prevent substate actors from taking destabilizing actions in the area, as occurred several times in the 2000s. Read the full paper here: https://lnkd.in/euc3NERD

In a region where #China thinks it can reign supreme, three nations once entangled in occupation and war have united to deter Beijing's territorial aggression. Patrick Cronin of Hudson Institute explains how the three-way alliance could affect the dynamics in the turbulent seas surrounding Japan and the Philippines. #WestPhilippineSea #SouthChinaSea #SenkakuIslands #SecondThomasShoal #USJapanPhilippines #geopolitics #Asiapolitics

Putin's speech at Valdai Forum gives a chance to end Ukrainian conflict — expert "It has long been known about [the conditions for ending the conflict, which include] Kiev’s neutrality, determination of Ukraine's new borders along the division line, maybe with taking our new regions into account," Alexander Dynkin noted SOCHI, November 8/ A chance for Ukrainian reconciliation has appeared - the United States may study the statements by Russian President Vladimir Putin at the plenary session of the Valdai Discussion Club, academician Alexander Dynkin told TASS on the margins of the event. "Yes, of course, it is possible," the president of the Primakov National Research Institute of World Economy and International Relations responded to a question about the possible end of the Ukrainian conflict. "It has long been known about [the conditions for ending the conflict, which include] Kiev’s neutrality, determination of Ukraine's new borders along the division line, maybe with taking our new regions into account. Now there is some chance." Donald Trump earlier said that he "would keep the focus on the Ukrainian issue," unlike 46th President of the United States Joe Biden, Dynkin noted. "And I hope that US experts will carefully study this speech [of Vladimir Putin] and get his idea," the academician emphasized. At the same time, agreement on conflict termination requires "some guarantees, some insurance instruments" from the US side. "We will hardly do this [conclude such an agreement] again - we have been tricked too many times," Dynkin pointed out. During the Valdai discussion, the Russian president said that Moscow was ready for peace talks on Ukraine, based not on Kiev’s "wishlists that change from month to month but <…> on the situation on the ground and the agreements that were reached in Istanbul." #business #finance #financialservices