Minsk is counting on the new U.S. administration’s actions vis-a-vis Russia and Ukraine to bring it out of diplomatic isolation without meaningful concessions on its part. But will Lukashenko’s ambitious gamble pay off?
It might seem that within BRICS, Russia should be overshadowed by the giant economies of China and India, especially the former. Yet what is happening is almost the opposite, with Russia effectively taking over the leading role in the club.
BRICS is emerging as a sandbox for experimentation with various non-USD instruments, including payment systems, cryptocurrencies, digitalized mechanisms for trade in national currencies or through barter, and hubs for commodities trading outside of dollar dominance.
As BRICS has expanded its membership during the past year, it has grown to encompass nearly half of the world’s population, lending it greater credibility as a platform for reflecting an increasingly multipolar world. Yet despite this expansion, the group continues to face internal divisions.
Russia-China competition and an expanded membership have turned the Eurasian security grouping into little more than a talking shop.
After NATO expelled Russian officers and cut the mission’s size, Russia announced it will pull its diplomatic mission to NATO entirely. Why did Moscow reach this decision?
Pitched as a new Silk Road sweeping from Asia to Europe, China’s enormous Belt and Road Initiative is an ambitious, multinational infrastructure project. Experts from four Carnegie global centers explain other countries’ perspectives.
