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Putin says Russia is redirecting trade to BRICS

Russian President Vladimir Putin said on Wednesday (22) that Moscow is “actively” redirecting its trade and economic contacts from Western countries to “reliable” international partners. , especially the BRICS nations, made up of Brazil, Russia, India, China and South Africa.

“It is clear that we are actively involved in redirecting our trade flow and economic contacts abroad to partners reliable international organizations, especially the BRICS countries,” Putin said in a video to the alliance’s Business Forum.

This move is due to Western sanctions against Russia for its military campaign in Ukraine. Putin highlighted that in the first three months of the year, trade between Russia and the other BRICS countries increased by 38%, to US$ 45 billion.

The Kremlin chief said that “contacts between Russian business circles and the business community of the BRICS countries” are being activated. Negotiations are underway, for example, to open Indian chain stores in Russia and increase the share of Chinese cars, equipment and machinery in the Russian market.

In turn, Russia’s presence in the other countries in the group is expanding, Putin pointed out. He noted that Russian oil export volumes to China and India “are growing remarkably” and that cooperation in the field of agriculture is developing dynamically as Russia supplies significant amounts of fertilizer to this market.

Furthermore, it stated that Russian information technology companies are expanding their activities in India and South Africa, and Russian satellites provide television broadcasts to 45 millions of people. people in Brazil. Along with the other BRICS partners, alternative mechanisms for international payments are also being developed.

“The Russian financial messaging system is open to the connection of banks from the five countries. use of the Russian payment system ‘Mir’ and the creation of an international reserve”, he emphasized.

In turn, Russian business circles, in coordination with the business communities of the BRICS States, are taking steps to develop transport infrastructure, rebuild logistical routes and create new production chains, he said.

As an invitation to BRICS businessmen, Putin assured that Russia is taking steps to reduce the negative impact of sanctions and strengthen its trade and investment ties with all interested states, and that the country it leads is particularly focused on stimulating private initiative.

The Russian president also denounced that “there is a rupture of released from the bonds of cooperation” and that “transport and logistics chains are collapsing”. “All this goes against common sense and elementary economic logic, harms the interests of companies on a global scale and negatively affects the well-being of the population, in fact, of all countries”, he said.

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