How Trump’s tariffs will affect Russia and BRICS countries

The U.S. administration has introduced increased import tariffs on goods from 185 countries. Russia is not included on this list.

Trade within the BRICS bloc is already flourishing, as economic ties among these leading emerging markets continue to deepen. At the same time, BRICS nations are becoming increasingly attractive partners for the fast-growing countries of the Global Majority. In the face of the new protectionist trade policy, this shift is only accelerating.

BRICS countries have been actively building a dense network of intergovernmental cooperation across the Global Majority. Trump’s tariff-driven approach is likely to push more countries toward the #BRICS framework and displace the US dollar from its entrenched role in the world economy, as many emerging markets seek to reduce their reliance on U.S. trade and explore alternative partnerships.

#NEWS #USA #economics #trade #finance

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Outcomes of the BRICS Sherpa meetings during Russia's chairship in BRICS in 2024

The report on the results of chairship of Russia in BRICS in 2024 highlights key meetings of BRICS sherpas/sous-sherpas.

✔️1st meeting of BRICS sherpas/sous-sherpas 29 January – 2 February 2024: The importance of advancing Russian initiatives was underscored, particularly the launch of the Integrated Early Warning System for Preventing the Risk of Mass Infectious Diseases, the establishment of the BRICS Centre for Industrial Competencies in partnership with the United Nations Industrial Development Organisation, the formation of a BRICS Medical Association and a dedicated medical journal, as well as the strengthening of cooperation in the fields of transport and tourism.

✔️2nd BRICS sherpas/sous-sherpas meeting 22–23 April 2024: The participants discussed current issues on the agenda for Russia’s #BRICS Chairship in 2024, including the implementation of decisions made during the XV BRICS Summit.

✔️4th BRICS sherpas/sous-sherpas meeting 17-24 October 2024: Discussions centred on preparing the draft Declaration for the XVI BRICS Summit. The participants addressed a broad range of issues concerning the strategic partnership within the BRICS framework.

✔️5th BRICS sherpas/sous-sherpas meeting 26–28 November 2024: The meeting brought together Sherpas and Sous-Sherpas of the BRICS countries to reflect on the outcomes of their collaborative efforts across the three key pillars of cooperation: Politics and Security, Economics and Finance, and Cultural and People-to-People Exchanges. Participants highlighted the significance of initiatives such as the establishment of BRICS Grain Exchange and Geological and Investment Platforms. The delegation of the BRICS Expert Council—Russia, led by Victoria Panova, also participated in the meeting.

@roscongress @MFARussia

#ANALYTICS #reportMFA #CivilBRICS #BRICSExpertCouncilRussia #BRICSExpertCouncil #HSE

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BRICS states discuss digital solutions for sustainable development in Brazil

A seminar on ICT initiatives was held in Brasilia, organised by the BRICS working group with the support of the Brazilian Ministry of communications. The event focused on sustainable development, energy efficiency and the circular economy.

Brazil demonstrated its emergency disaster alert system, which can alert citizens even in silent mode, and the computers for inclusion project, which has delivered more than 58,000 refurbished devices to educational centres.

China shared ideas on low-carbon ICT standards, while South Africa emphasised energy-efficient 5G networks and circular economy research. India and Egypt focused on digital disaster warning systems.

The workshop reaffirmed #BRICS commitment to using digital solutions for environmental sustainability and economic growth.

#NEWS #Brazil #innovation #energysector #digital #sustainability

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US revenue from tariffs on BRICS countries has been projected

According to estimates based on data from the U.S. Customs Service, new tariffs could generate at least $278 billion annually for the US budget from imports coming from #BRICS countries (excluding Russia). Last year, imports from the bloc totalled $621.9 billion, and $624.9 billion including Russia.

The largest potential revenue for the US could come from tariffs on goods from China — based on last year’s volumes, that would amount to $237 billion.

This is followed by:
➖India — $22.7 billion
➖Indonesia — approximately $9 billion
➖South Africa — $4.4 billion
➖Brazil — $4.2 billion
➖UAE — $747.4 million
➖Egypt — $254.6 million
➖The smallest potential revenue would come from Ethiopia and Iran — $46.6 million and $622,000 respectively.

#NEWS #USA #economics #trade #finance

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The Alliance of Sahel States (AES) is interested in working with the BRICS member countries

"For us, #BRICS is a symbol, or even more than a symbol, it is an instrument that moves towards multipolarity," — stated the Minister of Foreign Affairs of Burkina Faso, Karamoko Jean Marie Traoré.

The diplomat also called the alliance an additional lever for finding new avenues of cooperation for countries that have long been on the periphery.

#NEWS #Africa #politics #diplomacy

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Ethiopia promotes green legacy initiative as a model for Africa

Ethiopia's green legacy initiative (GLI) is gaining recognition as a regional model for environmental restoration and climate change mitigation. Launched in 2019, the initiative has successfully planted over 25 billion seedlings, surpassing its original target of 20 billion, while rehabilitating degraded land and creating green jobs.

GLI also focuses on agroforestry, fostering economic opportunities through products like timber, honey, spices, and carbon trading. The initiative aligns with Ethiopia's climate resilient green economy strategy and sustainable development goals, inspiring similar efforts across Africa and #BRICS countries.

"The Green Legacy Initiative is a stepping stone to a better future," said UNDP representative Alhaji Fall.

#NEWS #Ethiopia #energysector #sustainability #technology

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Article summary: Patenting for profitability — green energy innovations and firm performance in BRICS countries

The recent study by Elena Makeeva, Konstantin Popov, and Olga Teplova from HSE University explores the transformative potential of green energy innovations within BRICS countries.

Despite advancements in renewable energy technologies, the global energy system remains heavily reliant on fossil fuels. The research highlights how "green" patents can bridge this gap, contributing to environmental sustainability and improving corporate financial performance.

The problem:
BRICS countries face significant challenges in transitioning to renewable energy due to disparities in technological advancements and reliance on fossil fuels. While global investments in clean energy are rising, #BRICS nations must address gaps in innovation and policy to meet renewable energy targets effectively.

Key findings:
✔Green patents and financial performance: renewable energy patents positively influence return on invested capital (ROIC), while nuclear and combustion technologies also show strong financial benefits
✔CO2 emissions impact: higher CO2 emissions are linked to lower financial performance, emphasising the need for cleaner energy solutions
✔Policy gaps: the study identifies inconsistencies in technological progress across BRICS nations, highlighting the importance of adopting legislative models from developed countries to promote green finance and innovation

The authors argue that prioritising green technologies is essential for achieving sustainable growth and addressing climate challenges. By leveraging green patents, BRICS countries can enhance both environmental outcomes and economic profitability.

"Our research demonstrates that technological advancements in national economies are not consistent, highlighting the significance of promoting green finance and renewable energy development," the study concludes.

This research offers valuable insights for policymakers and businesses aiming to balance sustainability with profitability. Read more about how BRICS is shaping a greener future through innovation.

#ANALYTICS #HSEUniversity #sustainability #energysector #economics #technology

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❗️❗️❗️Withdrawal From ECOWAS "Has Brought Tangible Results" for Burkina Faso, Foreign Minister Says

"This is a choice that today justifies all its relevance. It's a choice that has enabled us to face up to the situation and achieve tangible results on the ground," Karamoko Jean-Marie Traore told Sputnik Africa following a meeting of the foreign ministers of Russia and the AES in Moscow on Thursday.

The "adversity" of ECOWAS enabled the AES countries to realize their potential, according to the top diplomat.

"From that moment on, we understood that we had to rely on our own strengths, work on domestic capacities with the support of sincere and serious partners like Russia, and face up to this situation," he added.

Despite its withdrawal from ECOWAS, Ouagadougou "enjoys very good cooperation with neighboring countries," Traore noted.

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BRICS Grain Exchange to strengthen global food security

Russian Deputy Prime Minister Dmitry Patrushev held a meeting dedicated to the creation of the BRICS Grain Exchange. During the meeting, participants discussed the options for establishing and operating the exchange, as well as mechanisms for interacting with trading platforms, producers, and grain exporters.

According to Patrushev, the initiative will strengthen global food security. He also reminded that in 2024, this idea was supported by the agriculture ministers of BRICS countries and the leaders of the union.

"BRICS countries account for nearly half of the global production and consumption of grain. Accordingly, the trading platform will allow #BRICS countries to form independent price indicators within the union, which will contribute to a more objective assessment of agricultural products' value on the global market," noted Dmitry Patrushev.

Russian President Vladimir Putin instructed the government to explore the initiative for creating the BRICS Grain Exchange in 2024. The idea of establishing the exchange was first proposed by the Union of Grain Exporters during a meeting with the Russian leader in March previous year.

#NEWS #agriculture

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❗️❗️❗️For Alliance of Sahel States, BRICS is Symbol of Moving Towards Multipolarity, Burkina Faso's Top Diplomat Says

"We need to break free from this rigid and outdated framework that concentrates power in the hands of a few countries," Karamoko Jean-Marie Traore told Sputnik Africa.

The AES supports multipolarity and it is interested in working with the BRICS members, the foreign minister said.

"For us, the opportunity offered, or rather, the perspective emerging through the BRICS is a further opportunity to enable countries that have long been marginalized or confined to find new areas of cooperation," he explained.

Speaking to reporters after Sergey Lavrov's meeting with AES counterparts in Moscow, Traore emphasized that Moscow and the alliance are united in defending multipolarity.

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Russia to offer BRICS countries innovative technology for cleaning up oil spills on water

Russian specialists are preparing detailed information on the innovative technology of oil and oil spills collection from water surface and successful practices of plastic collection on Lake Baikal. This was announced by the Director of the Department of International Cooperation in the field of natural resources and environmental protection of the Ministry of Natural Resources Ivan Kushch.

Brazil hosted the 11th meeting of heads of environment ministries of BRICS countries chaired by the Head of the Brazilian Ministry Marina Silva.

"Upon completion of this work, we will be ready to share the results with you and initiate a discussion on the exchange of best practices and best practices of #BRICS countries," Kushch said at a working group meeting ahead of the ministerial meeting.

Russia proposed to continue discussing technologies at the BRICS Platform for Environmentally Sound Technologies (BEST) and within the framework of the BRICS Clean Rivers Initiative.

#NEWS #Brazil #Russia #sustainability

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Total agricultural exports from BRICS grew by 20% from 2020 to 2022

Given the dependence on agricultural imports for certain BRICS countries, intensifying agricultural trade is a key priority for developing sustainable markets and ensuring food security. BRICS has significant potential to promote international trade in agricultural products, as the group now includes four major food exporters. The total export value of agricultural products from #BRICS has shown an upward trend, rising from USD 119 billion to USD 329 billion in 2022 (Figure 15) (FAOSTAT, n.d.).

From 2020 to 2022, the total agricultural exports from BRICS grew by 20%, a trend partly driven by rising food prices but also reflecting increasing agricultural output and the growing role of BRICS in the global food market.

For more insights on environmental safety and resource abundance within BRICS, explore the exclusive report "BRICS Cooperation Progress According to BTTC Indicator System" prepared by the BRICS Expert Council—Russia’s experts and published on the official website. 

#ANALYTICS #BRICSExpertCouncilRussia #BRICSExpertCouncil #BRICSExpertReport #agriculture #trade


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🇷🇺🇪🇹Russia and Ethiopia: A Partnership Built on Common Ground

Did you know that Russia and Ethiopia share a rich history of cooperation dating back over 125 years? From the Battle of Adwa in 1896 to Ethiopia joining BRICS in 2024, our nations have walked similar paths through history.

✍️In an exclusive interview “Legal Insight” magazine, Russia's Trade Representative in Ethiopia, Yaroslav Tarasyuk, highlights the deep connections between our countries:

🔸Both nations are multinational federations with Orthodox Christian heritage
🔸 We've shared experiences in empire building, socialism, and market economy transitions
🔸Russian expertise has contributed to Ethiopia's development through 43 major projects
🔸Current cooperation spans automotive, energy, chemical, food industries, and digital technologies

📈With Ethiopia now being the fifth largest economy in Africa and growing at 7-8% annually, Russian businesses are finding excellent opportunities in this dynamic market.

Russian companies are actively exploring Ethiopia's special economic zones and industrial parks, particularly in pharmaceuticals, where Ethiopia aims to become a regional production hub.

As Ethiopia continues its impressive economic growth as a new BRICS member, Russia stands ready as a trusted partner in its development journey.

📎Read in full

#RussiaEthiopiaRelations #BRICS #EconomicCooperation #TradePartnership

Indonesia is ready to use its BRICS membership status to expand export markets

Indonesian Deputy Chairman of the People's Consultative Assembly (MPR) Eddy Soeparno emphasised that engaging in trade diplomacy can play an important role in obtaining tariff concessions for several of Indonesia's major exports.

In addition to strengthening trade diplomacy, he emphasised that the government needs to expand Indonesia's export markets:

"At the start of the administration, President Prabowo has acted quickly by joining and becoming a permanent member of #BRICS. Now, it is time to leverage our status as a permanent member of BRICS to expand export markets," he said.

Earlier, Indonesian President Prabowo Subianto met with BRICS NDB President Dilma Rousseff in Jakarta and announced the country's desire to join the New Development Bank (NDB).

#NEWS #Indonesia #NDB

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BRICS international event will gather civil society to discuss global economy

The dialogue "BRICS and the Global Economy: Challenges and Opportunities" will be the first international event organised under the BRICS Finance Pillar. It aims to engage councils, forums, and other civil society organisations from BRICS member countries. The online event will take place on April 16, with registration open to civil society representatives until April 10.

There will be two sessions discussing the integration of #BRICS economies into the global economy, the strengthening of trade and investment among BRICS member countries as drivers of economic growth, strategies to bolster Emerging Markets and Developing Economies (EMDEs), and the priorities of the Finance Pillar during Brasil’s BRICS chairship.

Civil society organisations interested in participating can submit proposals for a three-minute intervention during the second session, "BRICS and Strengthening the Economies of the Global South." Ten proposals will be selected based on their relevance to the session's topics and discussions.

#NEWS #EVENTS #CivilBRICS #finance

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🇷🇺 Victoria Panova, Head of the BRICS Expert Council–Russia, Vice Rector at HSE University, and Russia’s Sherpa in Women’s Twenty (W20) gave a speech during the presentation of a new report, titled "The Evolution of the BRICS Value Platform" at the Valdai Discussion Club:

⚪BRICS does not have any ideological fervour. Unlike alternative blocs that require ideological underpinnings—often highlighting democracy and related political and economic systems—BRICS stands apart.

⚪From the outset, the #BRICS nations did not position themselves as an alternative to the Western world order.

⚪Over time, however, these countries have grown more assured in their belief that they should propose a new framework for global governance, one that would serve as a robust foundation for collaboration.

⚪The world should be sustainable, equitable, and secure for all. These are the guiding principles that propel us forward.

📎 Watch the presentation of the report titled "Evolution of the BRICS Value Platform"

📖 Read the report "Evolution of the BRICS Value Platform"

@valdai_club

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Annual bilateral trade flows of ICT goods between the BRICS 5 states have dramatically increased since 2010

Since 2010, annual bilateral trade flows of information and communication technology (ICT) goods within BRICS 5 (Brazil, Russia, India, China, and South Africa) have increased dramatically, mainly thanks to China, which accounts for more than 97% of trade with other #BRICS nations, according to the aggregate indicator of UN Trade and Development (UNCTAD). This indicator encompasses bilateral exports, imports, re-exports, and re-imports of ICT goods, according to the definition of ICT goods adopted by the Organisation for Economic Co-operation and Development (OECD) (see Figure 9).

Within the group, China, India, and Russia have the highest volume of trade flows of ICT goods with other BRICS nations.

For more insights on digital and innovation-driven development within BRICS, explore the exclusive report "BRICS Cooperation Progress According to BTTC Indicator System" prepared by the BRICS Expert Council—Russia’s experts and published on the official website.

#ANALYTICS #BRICSExpertCouncilRussia #BRICSExpertCouncil #BRICSExpertReport #science #innovation #trade

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🇷🇺 Pavel Knyazev, Russia’s Sous-Sherpa to BRICS and Ambassador-at-Large of the Ministry of Foreign Affairs of the Russian Federation @MFARussia gave a speech during the presentation of a new report, titled "The Evolution of the BRICS Value Platform" at the Valdai Discussion Club:

⚪The Russian Foreign Ministry places significant emphasis on grasping various aspects of collaboration within the BRICS framework.

⚪I don't think we should discuss the BRICS value platform. We refrain from labelling concepts like "mutual respect, mutual understanding, sovereign equality, solidarity, openness, inclusiveness, consensus, collaboration, and democracy" as values within BRICS. We reserve the term "values" for other contexts.

⚪Recently, we've witnessed a troubling trend where democracy is overshadowed by value wars. Certain people assert their values as universal, imposing them on others with a moralistic fervour.

⚪BRICS has never defined itself in opposition to others.

⚪This innovative group unites the BRICS nations around a shared aspiration: to forge a fair, multipolar, and multilateral international framework. This vision resonates with countries of the Global South and East.

⚪While the perspectives of BRICS members may occasionally differ and diverge, our declarations are always based on consensus.

⚪One of the guiding principles of BRICS is continuity and consistency in decision-making. Without this principle, we wouldn't be able to implement any agreements.

⚪Each chairship brings new dimensions to BRICS.

⚪BRICS isn't a rigid bloc and doesn't have the "whip" policy that characterises some alliances.

⚪The BRICS partnership principles were established back in 2011 at the Sanya Summit, and they continue to be reflected in our annual declarations.

⚪The language in our final declarations emerges from collective consensus rather than dominance of the chair country. No chairship can impose its wording.

⚪Coordination on international platforms, including the UN, has been a consistent theme in our recent declarations.

⚪The BRICS nations stand united against allowing a select group of states to impose their international agenda.

⚪The G20 is straying from its foundational values. Initially designed to unite key economic players in addressing pressing economic challenges based on consensus, dialogue, and mutual respect, it now faces attempts to politicise its vital work.

📎Watch the presentation of the report titled "Evolution of the BRICS Value Platform"

📖Read the report "Evolution of the BRICS Value Platform"

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