🔋 Even in the original five-country format, BRICS looked like a formidable energy conglomerate.

It included the world’s largest hydrocarbons exporter (Russia) and the largest consumer of energy resources (China). After the expansion on January 1, 2024, the group emerged as a real energy giant.

With the addition of the three hydrocarbon powers, BRICS now holds about 40 percent of the world’s proven oil reserves and more than 50 percent of gas reserves. On the demand end, the group accounts for 47 percent of the planet’s primary energy consumption, almost 50 percent above that of the G7 countries (including the European Union).

It is a hard fact that the centre of energy consumption is shifting from the developed countries, united under the G7 brand, to the so-called ‘emerging markets.’ But the scale of that transformation over the last thirty years has been truly monumental, writes Alexey Grivach, the author of a new #valdai_report “BRICS+ Energy: A Mover for the New World Order”.

https://valdaiclub.com/a/reports/brics-energy-a-mover-for-the-new-world-order/

⏰ The presentation of the report will take place today at 11:00 a.m. Moscow time. Watch the live broadcast on our website.

📑 Report “BRICS+ Energy: A Mover for the New World Order” in PDF

#Multipolarity_and_Connectivity #BRICS #energy

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🎥 LIVE: at 11:00 a.m. Moscow time, the Valdai Club will host a presentation of the new report “BRICS+ Energy: A Mover for the New World Order” on the eve of the BRICS summit in Kazan, Russia. 

https://vk.com/video-214192832_456239211

📑 Report “BRICS+ Energy: A Mover for the New World Order”

#Multipolarity_and_Connectivity #BRICS #energy #valdai_report

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🗣 On October 18, 2024, the Valdai Club hosted a presentation of the new report “BRICS+ Energy: A Mover for the New World Order” on the eve of the BRICS summit in Kazan, Russia. 

📷 Photo gallery

🎥 Video

📑 Report “BRICS+ Energy: A Mover for the New World Order” in PDF

#Multipolarity_and_Connectivity #BRICS #energy #valdai_report

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🤝🔋 Energy Cooperation within BRICS: Revolutionary Resistance

On October 18, on the eve of the BRICS summit in Kazan, the Valdai Club hosted a presentation of a report titled “BRICS+ Energy: A Mover for the New World Order.”

💬 Ivan Timofeev, the moderator of the discussion, noted that although the BRICS agenda is quite broad, energy occupies a special place in the group’s agenda, since Russia is the largest supplier of energy resources, and India, China, and Brazil are dynamically growing economic giants that need larger volumes of supplies. The international situation is also favourable for expanding energy cooperation between the group’s countries.

💬 Alexey Grivach, Deputy Director General for Gas Problems of the National Energy Security Fund (NESF) and author of the report, pointed out that the centre of energy development is shifting toward the Global South, particularly the Asia-Pacific region and the BRICS countries. More than thirty years ago, the "collective West" thought that it had won once and for all and that history had ended. However, life has shattered this illusion, and now the BRICS countries are defending their positions in the world. The rate of economic growth in most BRICS countries is also higher than in the West.

In addition, BRICS is a serious energy conglomerate, which has further strengthened its position after expansion. Electricity production, which can be considered a measure of economic power, has grown in the group's countries almost five-fold. He added that in the context of sanctions pressure, the BRICS countries and all countries that want to develop without heeding the dictates of the West are faced with the task of building infrastructure, institutions, and instruments for energy trade. “Our resistance must grow, and this should become one of the main areas of BRICS’ work,” the author of the Valdai Club report believes.

💬 Nivedita Das Kundu, Professor at the Faculty of International Relations at the Uzbekistan State University of World Languages, briefly outlined India’s approach to energy cooperation within BRICS. In her opinion, the topic of the report is “very significant.” The global balance of power is now shifting towards developing economies, and this affects the political and geostrategic situation around the world, she said. Energy cooperation among BRICS member countries serves to break the Western monopoly and hegemony and advances the multilateral agenda. Das Kundu acknowledged that the BRICS group has now adopted a certain anti-Western attitude, and this raises certain concerns for India, which fundamentally adheres to a neutral position and does not want to join the blocs. However, she called the emergence of BRICS+ a good step that facilitates the transition to a new world order.

https://valdaiclub.com/events/posts/articles/energy-cooperation-within-brics-revolutionary-resistance/

#Multipolarity_and_Connectivity #BRICS #energy #valdai_report

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🌍🌐 The expansion of BRICS in 2024 has undoubtedly increased Africa’s weight in international affairs and contributed to the ongoing discussion on the complexities of multipolarity.

As new regional players Egypt and Ethiopia have joined the group, both South Africa and northeast Africa are represented in BRICS, opening possibilities for deeper interstate ties, as well as new financial agreements on the establishment of logistics routes. This could potentially lead to a reduction in financial risks and attract large investments to the region.

Expanding the African presence in BRICS is also seen as beneficial to each BRICS country individually: China and India as the two largest investors in Africa, while Russia as a political force that is interested in moving the world towards multipolarity, and Brazil is a country that has a special historical connection with Africa.

How the objective strengthening of the continent’s global position will correlate with these pragmatic demands and whether there is room for more African voices in BRICS is discussed by Daria Zelenova, Head of the BRICS African Strategy Centre, Institute for African Studies, Russian Academy of Sciences.

https://valdaiclub.com/a/highlights/african-agendas-in-brics-complications/

#GlobalAlternatives #BRICS #BRICS2024

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🗺️ The emergence of BRICS is therefore more than a sign of the Global South's discontent and resentment towards the old structure, which is already in shambles.

It shows the reality of our world that is now in transition.

Declared to be a non-Western organisation but not against the West, members of BRICS come from different continents with different political and social systems, different religions and cultural and historical backgrounds.

This, by itself, is a manifestation of the fact that the World Majority favours multilateralism. Those obsolete thoughts and theories aimed at instigating or rationalising aggressive foreign polices to protect the hegemony of the rich and powerful are thereby out of date, writes Nelson Wong, President of the Shanghai Centre for RimPac Strategic and International Studies, for the 21st Annual meeting of the Valdai Discussion Club.

https://valdaiclub.com/a/highlights/crafting-a-structure-in-an-unstructured-world/

#valdai2024 #BRICS

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🪙 Global changes in the system of international relations, the main examples of which are the movement towards multipolarity and the increase in the weight of developing countries in world economy and politics, have become one of the signs of the current historical moment.

This trend is reflected, among other things, in the increased interest of countries in organisations without a dominant leader such as BRICS, which already unites 10 states representing 45% of the world's population.

It seems that a turning point has come when the association has a chance to show its significance and effectiveness in terms of solving issues that do not have only an economic but also an ideological dimension for the countries of the world majority.

Problems in mutual settlements between Russia and China can be solved by introducing the BRICS Pay system. Based on blockchain technologies, it can become an analogue of SWIFT for transactions in national currencies.

If Russia and China are able to resolve current difficulties by becoming pioneers in the field of cross-border digital mutual settlements, the development of the world economy has a chance to change its vector, the weight of developing countries will increase significantly, and strategic sovereignty will acquire real, not declared outlines, write Natalya Pomozova and Artyom Semenov.

https://valdaiclub.com/a/highlights/cross-border-payments-in-a-multipolar-world/

#Multipolarity_and_Connectivity #BRICS

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🌐 Strengthening multipolarity in the interest of promoting equitable global development and security was the key theme of the 2024 BRICS Summit.

The decisions adopted at the BRICS summit are, in fact, designed to provide a practical form for a new model of multilateral development within a fairer and more balanced international order which takes into account the rise of new centres of power, economic growth and the development of their own political decisions.

The fast-paced development of digital trade and support at the level of micro, small and medium enterprises in creating and integrating them into joint global value chains and global production networks with the help of appropriate innovative digital infrastructure and inclusive institutional architecture, offers significant opportunities for the Russian economy and Russia’s foreign trade.

In this sense, the decisions adopted at the BRICS Kazan Summit can serve as a strong foundation for carrying out the corresponding transformation with a focus on regional and local readiness to implement this transformation effectively, writes Ninel Seniuk, Associate Professor at the Faculty of World Economy and International Affairs, HSE University.

https://valdaiclub.com/a/highlights/international-trade-solutions-offered-by-the-brics/

#Return_of_Diplomacy #BRICS

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🌐 To assess the foreign policy preferences of potential BRICS partners, it is interesting to look at their voting in the UN General Assembly.

It is clear that their results should not be taken as absolutes, and the real political practice of states is not limited to voting results and is not determined by them.

But these votes are also symbolically quite important, writes Valdai Club Programme Director Oleg Barabanov.

https://valdaiclub.com/a/highlights/political-positions-brics-partner-countries/

#GlobalAlternatives #BRICS

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