Russian President Vladimir Putin has once again emphasized the role of BRICS as a central pillar of the emerging global architecture, underscoring its potential to challenge Western dominance in global finance and geopolitics. In a recent interview with China’s state-run Xinhua news agency ahead of his state visit to China, Putin presented BRICS as not only a political and economic bloc but also as a strategic platform for the “Global Majority” to demand a more equitable and non-discriminatory world order.

This framing comes at a time of increasing tensions between Moscow and Western capitals, driven largely by sanctions over the war in Ukraine, growing trade wars, and the struggle for influence in the Global South. For Putin, BRICS has become a platform to promote the narrative of multipolarity, while Russia and China appear aligned in their vision of rebalancing international power structures.

One of the central themes in Putin’s statement was the need to reform the international financial system. He argued that institutions such as the International Monetary Fund (IMF) and the World Bank remain tools of Western economic dominance, often deployed to enforce political agendas under the guise of financial assistance.

“Russia and China are committed to reforming the IMF and the World Bank in order to create a new financial system based on openness and true equity,” Putin said, stressing the importance of equal and non-discriminatory access to financial tools for all countries.

For many nations in the Global South, the call resonates with long-standing frustrations. Emerging economies have often criticized Western-controlled financial institutions for imposing conditions that reflect........

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