Ahead of the SCO Summit in Tianjin, Vladimir Putin vowed that Russia and China will bolster BRICS as a global power bloc, resist “neo-colonial” sanctions, and push for reforms to the IMF and World Bank.
Russian President Vladimir Putin declared that Moscow and Beijing are united in fortifying BRICS as a counterweight to Western dominance, pledging to resist “discriminatory sanctions” and reshape global financial systems.
Speaking to China’s Xinhua News Agency ahead of the 25th Shanghai Cooperation Organisation (SCO) Summit in Tianjin (August 31–September 1), Putin stressed the growing Russia-China partnership within BRICS and other multilateral platforms.
“We stand united in strengthening BRICS’ ability to address pressing global challenges, share similar views on international security, and take a common stand against discriminatory sanctions that hinder socioeconomic development of our members and the world at large,” Putin said.
BRICS as a “Global Pillar”
Putin described BRICS as a “key pillar of global architecture”, highlighting joint initiatives to create common platforms in strategic sectors and expand opportunities for member states. He argued that financial restrictions imposed by the West amount to “neo-colonialism”, undermining development for the “Global Majority.”
Call for IMF and World Bank Reform
Putin reiterated Russia’s push for reforming the IMF and World Bank, urging a “new financial system based on true equity” that ensures equal and non-discriminatory access for all countries.
“It is essential to end the use of finance as an instrument of neo-colonialism… we seek progress for the benefit of all humanity,” he said.
China’s Role Praised
The Russian president praised China’s influence within the G20, noting its role in shifting the agenda toward the priorities of the Global South. He welcomed the inclusion of the African Union as a permanent G20 member, calling it a step toward “deepening synergies” between BRICS, G20, and other blocs.
Modi-Putin Meeting Expected
During the SCO Summit, Putin is expected to hold bilateral talks with Indian Prime Minister Narendra Modi, further cementing Russia’s outreach to Asian partners amid strained ties with the West.
Putin’s remarks underscore Moscow’s strategy to position BRICS as an alternative power hub, challenging Western-led institutions and appealing to nations frustrated by sanctions and unequal financial structures.
