Overview

• The final declaration positioned BRICS as a counterbalance to the G7 and underscored its collective $77 trillion GDP, nearly half the world’s population and 40 percent of global output.
• The summit’s declaration highlighted a shift away from the US dollar as Russia reported that 90 percent of its 2024 transactions with BRICS partners used national currencies and other members committed to expanding bilateral payment systems.
• Participants condemned attacks on Iran and Israel’s Gaza operations while the final statement omitted any denunciation of Russia’s invasion of Ukraine and instead criticized Ukrainian military actions against civilians on Russian territory.
• Discussions emphasized equitable access to artificial intelligence and warned against exclusive, Western-dominated technologies that could undermine shared technological sovereignty.
• Notable absences of key leaders such as Xi Jinping and Vladimir Putin led to minister-level representation from major members and underscored strategic frictions within the bloc, particularly between China and India.