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Factbox-The main takeaways from the BRICS summit

Published by Jessica Weisman-Pitts

Posted on October 24, 2024

2 min read

· Last updated: January 29, 2026

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Leaders at the BRICS summit discussing global finance and geopolitics - Global Banking & Finance Review
Image of prominent leaders at the BRICS summit in Kazan, Russia, highlighting discussions on global finance, military tensions, and expansion of BRICS influence.
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KAZAN, Russia (Reuters) – Here’s a brief summary of the outcome of the BRICS summit: * XI AND MODI: Chinese President Xi Jinping and Indian Prime Minister Narendra Modi met just two days after New Delhi announced that it had reached a deal with Beijing to resolve a four-year military stand-off on their Himalayan frontier. […]

KAZAN, Russia (Reuters) – Here’s a brief summary of the outcome of the BRICS summit :

* XI AND MODI: Chinese President Xi Jinping and Indian Prime Minister Narendra Modi met just two days after New Delhi announced that it had reached a deal with Beijing to resolve a four-year military stand-off on their Himalayan frontier.

* LOTS OF LEADERS ATTENDED: Putin, who wanted to show that the West’s attempt to isolate Russia over the Ukraine war has failed, was able to attract major leaders such as Xi and Modi, and nearly 20 others including Turkey’s Tayyip Erdogan. U.N. Secretary-General Antonio Guterres also attended.

* BRICS WAITING LIST: Putin said more than 30 countries had expressed a desire to join the BRICS, though there was little immediate clarity on how the expansion would work.

* UKRAINE WAR: BRICS leaders did raise the Ukraine war with Putin in different formats, but there was no sign that anything specific would be done to end the conflict.

* BRICS MONEY: BRICS predicted its influence would grow and outlined common projects ranging from a grain exchange to a cross-border payments system. Here are the main points.

* MIDDLE EAST : Putin told BRICS leaders that the Middle East was on the brink of a full-scale war after a sharp rise in tension between Israel and Iran.

(Reporting by Vladimir Soldatkin in Kazan; Guy Faulconbridge and Gleb Bryanski in Moscow; editing by Philippa Fletcher)

Frequently Asked Questions

What is a military stand-off?
A military stand-off refers to a situation where opposing forces are in a state of tension or confrontation, but neither side engages in active combat. It often involves negotiations or diplomatic efforts to resolve the conflict.
What is the significance of international cooperation?
International cooperation involves countries working together to address global challenges, such as economic stability, security, and environmental issues. It is crucial for fostering peace, trade, and mutual understanding among nations.
What is the role of a central bank?
A central bank is a national institution responsible for managing a country's currency, money supply, and interest rates. It plays a critical role in maintaining economic stability and implementing monetary policy.

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