BRICS De-dollarization and Multipolarization Efforts: What to Expect After the Kazan Summit in October 2024

At the event organized by CABT on October 16, 2024, experts discussed general expectations for Russia’s BRICS presidency and the goals Putin might aim to achieve at the summit hosted by Russia in Kazan city from October 22–24.

BRICS+ is a formidable economic bloc, comprising half of the world’s population, 40% of its trade, 37% of global GDP (more than twice that of the EU) and 40% of crude oil production and exports. But how powerful is this bloc of non-Western countries, both economically and politically, and what impact could Russia’s 2024 chairmanship and the October BRICS summit have? Russia, as the BRICS chair in 2024, is likely to use the platform to promote its own agenda. How will Russia’s leadership of BRICS in 2024 influence the bloc and global processes, especially amid the war in Ukraine? Can Russia leverage BRICS for its own interests, and will other members support or resist these moves? Does a deeper unity between Russia and China against the West seem more realistic than ever before? Will de-dollarization finally gain momentum? These issues were addressed by the following speakers:

Summary brief: the final section of the brief addresses the actual outcomes of the October summit to be compared to the experts’ expectations.

Dr. Ilya Matveev, Visiting Scholar at the Program in Critical Theory, University of California, Berkeley; specialized in Russian politics and political economy

Dr. Evgeny Roshchin, School of Advanced International Studies (SAIS), Johns Hopkins University; expert in the international relations

Dr. Mihaela Papa, Director of Research and Principal Research Scientist, MIT Center for International Studies; expert in BRICS

Dr. Oleg Pachenkov, advocacy and outreach manager at CABT.