BRICS of power

In an increasingly polarized world, the recent BRICS summit in Kazan, Russia, sent a powerful message: the global South is ready to challenge the West’s economic and political monopoly. With the Western world seeking to isolate Russia amid the Ukraine conflict, this summit, attended by key global players, highlighted the bloc’s stance on creating an alternative to the West-dominated financial order. As BRICS expands into BRICS+, its influence swells, signaling a potential seismic shift in global power.

The summit’s timing alone was symbolic. Amid efforts to isolate Vladimir Putin, leaders of emerging economies rallied in Kazan, signaling that Russia is far from isolated. The participation of leaders from the UAE, Egypt, and Ethiopia, with Saudi Arabia in the pipeline, underscored the resolve among regional powers to create a counterbalance to the West’s dominance. Arab leaders at the summit reflected a growing desire in the region for balance, autonomy, and connectivity with the East rather than dependence on Western powers. With BRICS+ now representing 25% of the world’s GDP, the coalition is evolving into an alternative powerhouse.

However, India’s decision to veto the entry of Turkey and Pakistan sheds light on the complexities within the bloc. Turkey’s close relationship with Pakistan may have prompted India’s hesitation, revealing how BRICS is not immune to traditional geo-political rivalries. While BRICS leaders push for cooperation, individual national interests like India’s stance serve as reminders that building a multipolar world remains a nuanced, sometimes fragile endeavour.

What truly captured global attention was the group’s call for reduced reliance on the U.S. dollar. Leaders unveiled a symbolic banknote and initiated discussions on local currency trade as part of their ongoing efforts to challenge the dollar’s global dominance. The dollar’s status as a ‘weapon’ in global conflicts, as Putin openly termed it, has become a central concern for BRICS members. With almost 95% of Russian-Chinese trade now conducted in rubles and yuan, BRICS nations appear ready to shield themselves from economic sanctions, recognizing the leverage the U.S. wields through its currency. This unity, especially after sanctions on Russia, seems to have galvanized BRICS members around a common objective: economic independence.

Iranian journalist H. Muazin offered a sharp perspective on this shift. Drawing from history, he highlighted how past leaders like Muammar Gaddafi and Saddam Hussein sought alternative currencies and ended up facing Western interventions. The proposed BRICS currency challenges the West’s financial clout, but Muazin’s reminder carries weight: nations attempting to break from the dollar have faced severe pushback. He warns that the U.S. may deploy similar tactics to hinder BRICS’s plans, yet he also suggests that this time, the momentum may be on BRICS’s side, potentially signaling a decline in American influence.

But the currency issue is only part of the picture. Notably, the summit saw China and India, two nations with a longstanding border dispute, align under BRICS’s umbrella. Thanks to Putin’s diplomacy, both sides confirmed progress in resolving their issues, showing the bloc’s potential to foster cooperation even among rivals. Their solidarity goes beyond mere diplomacy; both countries have stepped in to buy Russian oil when the U.S. imposed sanctions, strengthening ties in defiance of Western pressures.

Brazil and Turkey have also signaled shifts in financial strategy, converting reserves into gold to further reduce dollar reliance. Additionally, China’s work on alternatives to the SWIFT payment system shows the group’s commitment to creating its own financial pathways. Together, these moves speak to a broader shift toward multipolarity—where power is dispersed rather than centralized in Western hands.

At its core, BRICS represents a shift from Western dominance to a more inclusive, multipolar global order. The summit’s emphasis on the Global South showcases the bloc’s commitment to a more balanced world, where power isn’t monopolized by a few. Economically, politically, and strategically, BRICS+ is positioning itself as a serious player on the world stage.

The question now remains: will the West adapt to this changing landscape, or resist it, potentially risking further polarization? As BRICS pushes forward, the bloc’s success will depend not just on avoiding internal conflicts but on the extent to which its vision of multipolarity can withstand the pressures of a world still deeply embedded in a Western-centric order.

For now, the Kazan summit stands as a defining moment, where the Global South took a decisive step toward breaking free from Western hegemony. Whether this alliance will redefine global power or face the same resistance as those before it, only time will tell—but one thing is certain: the era of unquestioned Western dominance is beginning to wane.

For Pakistan, which has been sidelined due to India’s veto, the expansion of BRICS and its agenda of economic sovereignty present both a challenge and an opportunity. For Pakistan to gain a foothold in such global alliances, it must assert itself through economic resilience and strategic partnerships that underscore its value within regional frameworks, potentially laying the groundwork for future acceptance into BRICS or other such coalitions aiming for a multipolar world.