Russia’s Strategies towards BRICS: Problems and Opportunities

Aleksandr Anatolievich Sergunin

doi:10.22363/2313-0660-2020-20-3-534-542

Abstract

This article aims to examine Moscow’s policy motives regarding BRICS as well as priority areas in Russia’s strategy towards this grouping. The Russian policies towards and within BRICS represent a combination of ideational and material motives. On the one hand, BRICS is important for the Kremlin in terms of status seeking: with the BRICS’ help Russia tries to return its status of a great power, shape the future world order and to make the West abide by the rules of that order. On the other hand, Moscow values its economic and strategic partnerships with the BRICS states which are important for Russia’s well-being and for counter-balancing the West in the global geopolitical and geoeconomic game. In other words, BRICS provides Russia with additional prestige in the international arena as well as greater legitimacy to its international activities. In contrast to the West’s accusations, in case of BRICS Russia’s foreign policy behavior does not fall into the category of the revisionist one. Rather, Russia (similar to other BRICS countries) prefers to act on the basis of existing international rules and norms rather than to challenge or keep them intact. Russia aims at reforming these rules to adapt them to new global realities and make them acceptable for all the members of the world community.

Highlights

Russia’s contemporary foreign policy in general and in the BRICS context in particular is a popular target for the Western criticism
The quotas of the BRICS countries were increased to 14.7 per cent which came closer to the 15 per cent stake of the US
The BRICS grouping is important for Moscow in terms of status seeking, as it believes that by joining forces with other major emerging economies, it will be easier to regain its great power status, shape the emerging world order and compel the West — the U.S — to abide by the rules of that order

Summary

Introduction

Russia’s contemporary foreign policy in general and in the BRICS context in particular is a popular target for the Western criticism. Its member states strongly believe that the West should be blamed for the “shortsighted” and “reckless” financial policies that led to the financial crisis and that the emerging economies should act together in this critical period Their decision to establish a “New Development Bank” of 100 billion USD to finance infrastructure projects and a “Contingent Reserve Arrangement” of 100 billion USD to stabilize their currency markets aimed to create safeguards against new global crises and make them less dependent on the economic and financial rules imposed by the Western countries. All of the BRICS countries have found it difficult to increase their influence on the world stage within the framework of existing institutions and they have all been looking for ways to strengthen their geopolitical positions by forming a new global politicoeconomic structure.

10 Vladimir Putin’s News Conference Following the

Findings

Conclusion