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5h ago

BRICS Summit Opens in Rio With Xi and Putin Absent

Delegates are drafting a guarded communique to condemn new US import tariffs as they press for currency alternatives

Ricardo Alban, President of the National Confederation of Industry (CNI), delivers a speech as Malaysia's Prime Minister Anwar Ibrahim, Brazil's President Luiz Inacio Lula da Silva and Brazil's Vice President Geraldo Alckmin participate at the opening of the BRICS Business Forum, ahead of the BRICS Presidential Summit, in Rio de Janeiro, Brazil, July 5, 2025. REUTERS/Pilar Olivares
Brazil BRICS
China's Premier Li Qiang waves during a visit to Jakarta, Indonesia, in May.
Officials, including Russian leader Vladimir Putin and Chinese leader Xi Jinping, attend the at the BRICS summit in Kazan, Russia, in October 2024.

Overview

  • China’s Xi Jinping is represented by Premier Li Qiang at the summit while Russia’s Vladimir Putin joins virtually under an ICC arrest warrant.
  • Brazilian President Luiz Inácio Lula da Silva urged exploring alternatives to the US dollar for intra-BRICS trade to reduce dependence on Western financial systems.
  • Leaders plan to denounce President Trump’s incoming import levies without naming the United States in a cautious final declaration.
  • India’s delegation, led by Prime Minister Narendra Modi, is pushing to remove intra-bloc trade barriers and expand local-currency transactions.
  • Recent expansion to ten members has introduced new fault lines that complicate unified stances on Middle East conflicts and global governance reform.