Foreign Minister Sergey Lavrov represented Russia on site, arriving in a motorcade that bore the slogan: “We are Russia! We are Lavrov!”
The 2025 summit was hosted by Brazil, which assumed BRICS chairmanship at the start of the year. The next, eighteenth summit is scheduled to take place in India in 2026. Last year’s summit was hosted in Kazan under Russia’s presidency.
Lavrov: Trust in US Dollar Eroded, Global Order in Crisis
In remarks during the summit, Foreign Minister Lavrov sharply criticized the unchecked growth of US national debt and the use of the dollar as a geopolitical weapon. He argued that the credibility of the dollar as a reliable global currency has been compromised by unilateral sanctions and financial coercion.
Lavrov also noted that the COVID-19 pandemic exposed deep flaws in the global financial system, which have only worsened with time. He advocated for a departure from the traditional model of globalization, calling it outdated and inherently neocolonial.
Putin: BRICS Economies Surpass the G7
President Putin emphasized the growing clout of BRICS in the global economy. According to him, the bloc now represents 40% of the world’s economy and nearly half of the planet’s population. He cited IMF data indicating that the combined GDP of BRICS countries in purchasing power parity exceeds $77 trillion — significantly outpacing the G7 by roughly 25%.
Kirill Dmitriev, head of the Russian Direct Investment Fund, echoed these claims, stating that BRICS now produces nearly 40% of global GDP, while the G7 accounts for less than 29%. He called this a defining moment for the Global South.
A New World Order in the Making
Putin and Lavrov both painted a picture of an accelerating transition from the old unipolar world order to a new, multipolar global reality. Putin described this as a natural correction to the West-centric system that served the interests of a “golden billion.”
Lavrov added that this transition is not a matter of preference but of historical necessity. He accused Western countries of pushing ideological ultimatums in the name of sustainable development and proposed the creation of a new BRICS investment platform under the New Development Bank to address global imbalances and spur equitable growth.
Putin concluded his remarks by endorsing the summit’s final declaration, calling it a “strong foundation” for continued cooperation in the BRICS tradition of equality and mutual respect.
