The BRICS summit in Kazan, Russia, has shaken the world. Geopolitically it is one of the events of the decade and although it has generated a large number of commitments between its member states, the truth is that the Western press has misunderstood and defamed the event. However, at Otralectura.com we are convinced of the need to make the reality of this organization and the agreements adopted at the Kazan Summit known to the Western public.

For this purpose I have been able to interview Tatiana Seliverstova. She is founder of the International Trade and Investment Company “Consult Invest ITIC” (the company is represented in five countries), Director of the International Award «TOP 100 BRICS Entrepreneurs», Director of the International Acceleration Program «BRICS Business Incubator» and «SCO Business Incubator».

Question: Saudi Arabia’s undecided role in BRICS – are they not convinced in Riyadh or is their problem the hijacking of Saudi diplomacy by the US?

To answer this question, it is essential to highlight two significant facts regarding the trade and economic relationship between Saudi Arabia and the United States: the United States is Saudi Arabia’s largest trading partner, while Saudi Arabia is one of the biggest export markets for the U.S. in the Middle East. Additionally, Saudi Arabia stands as a major source of oil for the United States, supplying over one million barrels per day to the American market. Five of the eleven members of the board of directors of «Saudi Aramco» are U.S. citizens or from close U.S. allies, which, in practice, means that decisions on key issues within the world’s second-largest oil-producing company are made with American representatives’ considerations.

In short, Saudi Arabia is undoubtedly inclined toward reshaping a multipolar world, but economic pressure from the U.S. constrains the country’s ability to act freely within geopolitical processes. Nevertheless, it is likely that Saudi Arabia will continue to strengthen its cooperation with BRICS countries and aim to expand the volume of mutual trade and investment projects.

Question: Will the Brazil-Russia difference over Venezuela be resolved through bilateral agreements or will ad hoc categories be created within the BRICS group of partners depending on the situation of each partner?

Russia will not pressure Brazil—this is clear. Brazil was one of the founding members of BRICS, and in this case, Russia will consistently work to persuade Brazil to include Venezuela among BRICS partner countries, which may take years. More significantly, Russia will continue to support Venezuela through the development of bilateral relations.

Question: At the BRICS summit we have seen an increasing role for India. What does this mean? What is India’s position on economic issues such as the new SWIFT code, the possible new BRICS currency or the general context of the organisation? Taking into account the diplomatic success at the Kazan BRICS with China by Aksai Chin.

At the BRICS Summit in Kazan, President Putin personally stated that BRICS is considering an initiative to create a new payment system, though it would not be designed to replace SWIFT. It’s clear that this cautious approach reflects India’s reluctance to establish new tools for international transactions, given its close economic cooperation with the United States. Developing new financial mechanisms under the BRICS framework could provoke a negative response from the U.S. leadership, potentially leading to sanctions against India. Here are some figures: in 2022–2023, the U.S. became India’s largest trading partner, with bilateral trade reaching $128.55 billion. India’s exports to the U.S. increased by 2.81% to $78.31 billion, while imports rose by approximately 16% to $50.24 billion.

Question: About Guterres, is it possible to form a BRICS-UN partnership that could serve as an experimental laboratory for establishing the necessary reforms for the geopolitical representation of already consolidated but unrepresented countries?

I believe this is impossible. We can clearly see the strong influence of Western governments and structures within the United Nations, which would prevent BRICS countries from increasing their influence over key decision-making within the UN, including the admission of new countries to the Security Council.

Question: And at the end, ¿What is the role of partner in BRICS decided in Kazan 2024? and ¿Is the consensus about de dedolarization and new SWIFT definitive and ready for being development by the technicians of BRICS Bank and economists?

I believe the status of a BRICS partner was established as a form of consensus. Over 30 countries are interested in joining BRICS, but it’s widely understood that with such a large membership, managing the alliance would become challenging and would require bureaucratizing all processes, which is difficult at this stage. We should remember that BRICS is an informal grouping rather than an official international organization. Initially, the main goal of the alliance was to strengthen mutual trade and economic projects. Today, however, BRICS aspires to create a system of fair global order based on equality among countries and non-interference in each other’s domestic affairs, fostering mutual prosperity. This is a new approach that requires a gradual establishment of new structures within BRICS itself, a process that will take considerable time. Nonetheless, one thing is clear: the number of BRICS partner countries will continue to grow each year.

There is no consensus among BRICS countries on this issue. Over the next few years, BRICS nations will continue to settle transactions in national currencies. China’s position and the potential use of the yuan for international settlements are key here; however, it’s evident that China is also not ready to assume the risks associated with large-scale adoption of its currency.

Koldo Salazar López