Dubai Telegraph - BRICS nations to gather without Xi, Putin

EUR -
AED 4.314099
AFN 76.936429
ALL 96.605599
AMD 448.400944
ANG 2.102883
AOA 1077.044807
ARS 1691.556453
AUD 1.764619
AWG 2.114155
AZN 2.001365
BAM 1.959379
BBD 2.366212
BDT 143.572249
BGN 1.956545
BHD 0.440843
BIF 3482.482632
BMD 1.17453
BND 1.517265
BOB 8.117793
BRL 6.365607
BSD 1.174841
BTN 106.244614
BWP 15.566367
BYN 3.463412
BYR 23020.795811
BZD 2.362806
CAD 1.618562
CDF 2630.948518
CHF 0.934916
CLF 0.027253
CLP 1069.11676
CNY 8.28573
CNH 8.284633
COP 4467.326371
CRC 587.670939
CUC 1.17453
CUP 31.125056
CVE 110.728901
CZK 24.276491
DJF 208.738004
DKK 7.472132
DOP 74.994227
DZD 152.329593
EGP 55.571073
ERN 17.617956
ETB 182.316528
FJD 2.660605
FKP 0.879936
GBP 0.878351
GEL 3.175767
GGP 0.879936
GHS 13.489529
GIP 0.879936
GMD 85.741137
GNF 10207.844111
GTQ 8.998437
GYD 245.78791
HKD 9.137671
HNL 30.777205
HRK 7.537789
HTG 153.990624
HUF 385.234681
IDR 19536.845016
ILS 3.785271
IMP 0.879936
INR 106.356551
IQD 1538.634822
IRR 49474.161194
ISK 148.465122
JEP 0.879936
JMD 188.10359
JOD 0.832789
JPY 182.940203
KES 151.401433
KGS 102.713135
KHR 4705.169188
KMF 492.719958
KPW 1057.060817
KRW 1732.409297
KWD 0.360233
KYD 0.979084
KZT 612.71658
LAK 25463.81945
LBP 105179.197597
LKR 363.02155
LRD 207.92129
LSL 19.826521
LTL 3.468083
LVL 0.710462
LYD 6.366402
MAD 10.795403
MDL 19.860192
MGA 5297.132504
MKD 61.543973
MMK 2466.385496
MNT 4167.553805
MOP 9.420668
MRU 46.676283
MUR 53.915339
MVR 18.092159
MWK 2039.576425
MXN 21.158465
MYR 4.812408
MZN 75.064681
NAD 19.826516
NGN 1706.088063
NIO 43.193401
NOK 11.906572
NPR 169.991784
NZD 2.023657
OMR 0.449616
PAB 1.174841
PEN 4.232665
PGK 5.002564
PHP 69.43241
PKR 329.132826
PLN 4.225315
PYG 7891.414466
QAR 4.276587
RON 5.092651
RSD 117.424033
RUB 93.579038
RWF 1704.243608
SAR 4.407202
SBD 9.603843
SCR 17.568707
SDG 706.484352
SEK 10.887784
SGD 1.517538
SHP 0.881202
SLE 28.335591
SLL 24629.319496
SOS 671.248424
SRD 45.275842
STD 24310.407882
STN 24.958771
SVC 10.279733
SYP 12986.886804
SZL 19.826507
THB 37.021631
TJS 10.796675
TMT 4.122602
TND 3.424975
TOP 2.827988
TRY 50.147872
TTD 7.972529
TWD 36.804032
TZS 2901.090478
UAH 49.639761
UGX 4175.627205
USD 1.17453
UYU 46.104017
UZS 14097.305357
VES 314.116117
VND 30897.196663
VUV 142.580188
WST 3.259869
XAF 657.154562
XAG 0.018956
XAU 0.000273
XCD 3.174228
XCG 2.117359
XDR 0.816516
XOF 655.388352
XPF 119.331742
YER 280.129715
ZAR 19.820676
ZMK 10572.187233
ZMW 27.109403
ZWL 378.198309
  • RBGPF

    0.0000

    81.17

    0%

  • SCS

    0.0200

    16.14

    +0.12%

  • BCC

    0.2500

    76.51

    +0.33%

  • GSK

    -0.0700

    48.81

    -0.14%

  • NGG

    0.2400

    74.93

    +0.32%

  • RELX

    0.1000

    40.38

    +0.25%

  • CMSD

    -0.1500

    23.25

    -0.65%

  • BP

    -0.2700

    35.26

    -0.77%

  • BTI

    -1.2700

    57.1

    -2.22%

  • BCE

    0.3100

    23.71

    +1.31%

  • JRI

    -0.0200

    13.7

    -0.15%

  • VOD

    0.0500

    12.59

    +0.4%

  • AZN

    -0.4600

    89.83

    -0.51%

  • RYCEF

    -0.2500

    14.6

    -1.71%

  • RIO

    -1.0800

    75.66

    -1.43%

  • CMSC

    -0.1300

    23.3

    -0.56%

BRICS nations to gather without Xi, Putin
BRICS nations to gather without Xi, Putin / Photo: Pablo PORCIUNCULA - AFP

BRICS nations to gather without Xi, Putin

BRICS leaders will meet in Rio de Janeiro from Sunday, with the bloc depleted by the absence of China's Xi Jinping, who is skipping the annual summit of emerging economies for the first time in 12 years.

Text size:

The grouping -- often seen as a Chinese-driven counterbalance to Western power -- meets as members face imminent and costly tariff wars with the United States.

Conceived two decades ago as a forum for fast-growing economies, the BRICS have come to be dominated by Beijing, which grew much faster and larger than the rest.

China has not said why Xi will miss the summit, a first since he became president in 2012.

"I expect there will be speculation about the reasons for Xi's absence," said Ryan Hass, a former China director at the US National Security Council who is now with the Brookings Institution think tank.

"The simplest explanation may hold the most explanatory power. Xi recently hosted Lula in Beijing," said Hass.

The Chinese leader will not be the only notable absentee. War crime-indicted Russian President Vladimir Putin is also opting to stay away, but will participate via video link, according to the Kremlin.

So too will Iran's President Masoud Pezeshkian, whose nation is still reeling from a 12-day conflict with Israel.

Hass said that Putin's non-attendance and the fact that India's prime minister will be a guest of honor in Brazil could also be factors in Xi's absence.

"Xi does not want to appear upstaged by Modi," who will receive a state lunch, he said.

"I expect Xi's decision to delegate attendance to Premier Li (Qiang) rests amidst these factors."

Still, the Xi no-show is a blow to host President Luiz Inacio Lula da Silva, who wants Brazil to play a bigger role on the world stage.

In the year to November 2025, Brazil will have hosted a G20 summit, a BRICS summit, and COP30 international climate talks, all before heading into fiercely contested presidential elections next year.

Lula is expected to run again for an unprecedented fourth term in office.

- 'Cautious tone' -

For BRICS leaders who do make the trip to the "cidade maravilhosa" -- the marvelous city -- the economy will be top of the agenda.

Lula on Friday defended the idea of finding an alternative to the dollar for trade among BRICS nations.

"I know it is complicated. There are political problems," Lula said at a BRICS banking event. "But if we do not find a new formula, we are going to finish the 21st century the way we started the 20th."

But with many, including China, locked in difficult trade negotiations with the United States, they may be wary of roiling the mercurial US president.

President Donald Trump has warned that starting Friday, countries will receive letters stating the amount their exports to the United States will be tariffed.

He has also threatened to impose 100 percent tariffs on countries that challenge the dollar's international dominance.

"We're anticipating a summit with a cautious tone: it will be difficult to mention the United States by name in the final declaration," Marta Fernandez, director of the BRICS Policy Center at Rio's Pontifical Catholic University, told AFP.

This is particularly the case for China, she said: "This doesn't seem to be the right time to provoke further friction" between the world's two leading economies.

On a range of other issues, from the Middle East to climate, BRICS members will have to overcome deep-seated differences.

- Consensus-building difficult -

Original members of the bloc Brazil, Russia, India, and China have been joined by South Africa and, more recently, by Saudi Arabia, Iran, the United Arab Emirates, Egypt, Ethiopia, and Indonesia.

Analysts say that it has given the grouping more potential international punch. The BRICS now represent nearly half of the world's population and 40 percent of its GDP.

But it has also opened many new fault lines, not least over how strongly to challenge the United States.

This expansion "makes it all the more difficult to build a strong consensus," said Fernandez.

BRICS members did not issue a strong statement on the Iran-Israel conflict and subsequent US military strikes due to their "diverging" interests, according to Oliver Stuenkel, a professor of international relations at the Getulio Vargas Foundation.

Brazil, nevertheless, hopes that countries can take a common stand at the summit, including on the most sensitive issues.

"BRICS (countries), throughout their history, have managed to speak with one voice on major international issues, and there's no reason why that shouldn't be the case this time on the subject of the Middle East," Brazil's Foreign Minister Mauro Vieira told AFP.

Artificial intelligence and global governance reform will also be on the menu.

A.Al-Mehrazi--DT