BRICS Summit Kicks Off Without Key Leaders

The annual BRICS summit commences in Brazil, bringing together leaders from major emerging economies. However, this year’s gathering is notable for the absence of key figures from two of its most influential member nations.

**Xi Jinping** Skips Key Meeting

In a departure from the past decade, Xi Jinping, the leader of China, will not be attending the BRICS leaders’ summit. This absence occurs at a crucial time for the organization, which has expanded to include Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran.

Global Challenges Loom

Some BRICS members face a looming deadline to negotiate tariffs imposed by the United States. The bloc also confronts global economic uncertainty stemming from shifts in American trade policy. These factors have amplified pressure on BRICS to demonstrate unity.

**Putin** Attends Remotely

Joining Xi in absentia is Vladimir Putin of Russia, who will participate via video link. Similar to his participation in the 2023 BRICS gathering in South Africa, Putin’s remote presence is due to Brazil’s obligations under the International Criminal Court, which has charged him with war crimes related to the conflict in Ukraine.

China’s Stance

Despite Xi’s absence, observers believe that China remains committed to BRICS as a means of counterbalancing Western influence. According to Chong Ja Ian, an associate professor at the National University of Singapore, “(BRICS) is part and parcel of Beijing’s effort to make sure it isn’t hemmed in by the US allies.”

Other Attendees

Indian Prime Minister Narendra Modi is set to attend the summit and conduct a state visit to Brazil. South African President Cyril Ramaphosa is also expected to be present, as is Indonesia’s Prabowo Subianto. Uncertainty remains regarding Saudi Arabia’s potential membership. According to a recent report by Chatham House, Saudi Arabia’s GDP growth is projected to slow to 2.4% in 2025, making economic diversification through BRICS even more crucial Chatham House, 2024.

De-dollarization on the Agenda

One key issue to watch is the promotion of trade and finance in national currencies, a move away from the US dollar. This concept is particularly appealing to countries like Russia and Iran, which face significant US sanctions.

BRICS Currency Unlikely

Despite previous suggestions from Lula regarding a potential BRICS currency, this topic is unlikely to be a central point of negotiation. Donald Trump has previously threatened to impose tariffs on BRICS nations supporting such an initiative.