Putin and Ramaphosa Discuss BRICS Summit, Trade and Cooperation; Russian President to Join via Video Link

By Bitcoin.com - 10 months ago - Reading Time: 2 minutes

Putin and Ramaphosa Discuss BRICS Summit, Trade and Cooperation; Russian President to Join via Video Link

Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the organization, reflecting a shared commitment to international engagement. While Putin won’t be attending the conference in person, he will be represented via video link and by Russian foreign minister Sergey Lavrov’s attendance.

Putin Opts for Virtual Presence at BRICS; Engages Ramaphosa on Bloc’s Future

Russian president Vladimir Putin and South African president Cyril Ramaphosa engaged in a detailed conversation about cooperation and the upcoming BRICS summit by telephone. Scheduled to be held in Johannesburg on August 23-24, the summit is set to discuss the BRICS bloc’s expansion, among other topics.

“The sides reiterated their commitment to further constructive cooperation on the current international agenda,” Russian media publication Tass quotes the Kremlin press service as saying.

Putin confirmed that he would not attend the summit in person, explaining that his presence in Russia was more critical. Russian foreign minister Sergey Lavrov will represent Moscow in person, while Putin will participate via video link. The dialogue between Putin and Ramaphosa came on the heels of their July 29 encounter and the earlier Russia-Africa summit, convened in St. Petersburg.

Ramaphosa expressed a favorable evaluation of the summit’s outcomes, underlining the burgeoning relationship between Russia and South Africa. A principal subject at the summit will pertain to the organization’s growth. Additionally, BRICS has been concentrating on de-dollarization, and this issue is poised to be a focal point at the impending event.

The alliance is engaged in deliberations about the establishment of a new reserve currency underpinned by gold, and the strategic coordination of the development of central bank digital currencies (CBDCs).

A push for currency diversification also stands out, as BRICS nations are actively striving to reduce dependence on the U.S. dollar by endorsing the utilization of alternative currencies like the ruble and the yuan. Even in the face of obstacles to de-dollarization, the BRICS collective remains resolute in its course and has a history of surpassing expectations.

How do you perceive the strategic moves discussed by Putin and Ramaphosa ahead of the BRICS Summit? Could the focus on currency diversification and organizational growth reshape international economic dynamics? Share your thoughts and opinions about this subject in the comments section below.

Original source: Bitcoin.com