Russian President Vladimir Putin has claimed that Moscow and Beijing are united in strengthening the BRICS group to tackle global issues. In an interview with Xinhua News Agency, before the 25th Shanghai Cooperation Organisation (SCO) Summit in Tianjin, China, Putin highlighted the growing cooperation between the two nations in multilateral platforms. He emphasized their role in transforming BRICS into a key part of the global framework and supporting reforms in global financial institutions.
In the interview, Putin reiterated his support for reforming the International Monetary Fund (IMF) and the World Bank. He called for a 'new financial system' that is based on true fairness and equal access for all nations. The Russian President also criticised the use of financial tools as a form of neo-colonialism and stated that BRICS aims for inclusive progress that benefits the Global Majority. "Together with our Chinese partners, we support the reform of the International Monetary Fund and the World Bank. We agree that a new financial system must be based on openness and true equity, giving equal and fair access to its tools for all countries and reflecting the real position of member states in the global economy. It is essential to stop using finance as a tool of neo-colonialism, which goes against the interests of the Global Majority. Instead, we seek progress for the benefit of all humanity," Putin stated, as quoted by Xinhua News Agency.