BRICS: Putin Calls for New Financial System, Slams U.S. Tariffs, Backs Multipolar Future
Fresh from a four-day trip to China, Russian President Vladimir Putin used the Shanghai Cooperation Organisation (SCO) summit to renew his call for a global reset.
The Russian leader said the time has come to abandon a system where one power dictates the rules and instead move toward what he described as a fairer, multipolar world order.
Russia’s Pitch for Balance
Putin argued that economic weight should not give any single country the authority to dominate politics or security. He pointed to the rise of India and China as proof that global influence can no longer be concentrated in one capital. Moscow, he reminded attendees, now sits among the top four economies by purchasing power parity, even under the pressure of Western sanctions.
A Swipe at Washington
The speech also took aim at the United States. Putin cited recent tariff hikes under President Trump, including a 50% levy on Indian imports and new duties on Indian purchases of Russian oil. Such moves, he suggested, expose the flaws of a “unipolar” approach that punishes rivals instead of encouraging cooperation.
Diplomacy With Beijing and Delhi
The SCO gathering followed what Putin described as a productive visit to China, where several agreements were signed and billed as “forward-looking.” He also disclosed that he had briefed Indian Prime Minister Narendra Modi on discussions he held with Trump in Alaska — a remark seemingly designed to underline Russia’s role as a key intermediary in global affairs.
The Broader Strategy
By tying his message to forums like BRICS and the SCO, Putin is working to frame Russia not as an isolated power under sanctions but as part of a larger movement challenging Western dominance. His multipolar vision, if realized, would tilt the balance of international influence toward Asia and emerging economies while further reducing reliance on Western institutions.
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