Full Breakdown
Russia Signs BRICS Pay and Technology Deals Ahead of New Delhi Summit
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Core Agreements Announced in New Delhi
On September 11, presidential aide Kirill Dmitriev said the Russian Direct Investment Fund signed three agreements on the BRICS payment system (“BRICS Pay”), education cooperation, and support for Russian technology firms. The deals were announced on the sidelines of the BRICS Business Forum in New Delhi. Dmitriev said the instruments are developing rapidly and will help startups interact across BRICS markets.
Background & Context
The BRICS grouping—Brazil, Russia, India, China and South Africa—has expanded to 11 member states, representing roughly half of the world’s population and a large share of global energy, resources and economic output. The New Delhi summit comes as wars in Ukraine and the Middle East, and heightened U.S.–China tension, test the bloc’s cohesion.
Data & Statistics
- 11 BRICS members, together accounting for about 50 % of the global population.
- Russia has supplied India with high-resolution satellite imagery covering roughly 100,000 sq km over the past 18 months.
- The INNOPROM India exhibition ran from September 9-11 at Bharat Mandapam.
Official Statements & Responses
- President Putin, visiting New Delhi from September 11-13, met Prime Minister Narendra Modi and attended the INNOPROM exhibition, signaling Russia’s intent to deepen bilateral ties.
- Dmitry Bakanov, head of Roscosmos, outlined a proposal for a BRICS space council to coordinate satellite-data sharing and joint missions. He said the council’s formation is underway but still requires approval from all members.
- Prime Minister Modi held talks with President Putin and Iranian President Masoud Pezeshkian, discussing navigation freedom, crew safety, and urging the bloc to boost trade cooperation.
Criticism & Opposition
Senior analyst Praveen Donthi of the International Crisis Group warned that India seeks to prevent BRICS from becoming an explicitly anti-Western bloc.
Conflicting Reports & Gaps
- Joint Declaration: Reuters reported a joint declaration was agreed on September 12, while other coverage notes the wording remained under negotiation.
- Space Council Timeline: Bakanov confirmed the proposal is progressing, but no member has committed to a signing date, and the council is not expected to be formalized at the summit.
Verbatim Quotes
- “The Global South is not a homogeneous entity,” — Praveen Donthi
- “BRICS allows for incremental geopolitical gains, if not outright wins,” — Praveen Donthi
- “As the host, New Delhi has a delicate balancing act,” — Al Jazeera’s Um-e-Kulsoom Shariff
What’s Next
Final documents are slated for signing on the Sunday after the two-day meeting. Russia and India will continue talks on joint rocket-engine projects and licensing, while the broader BRICS agenda will address non-Western payment channels, AI cooperation and the possible establishment of the space council pending member approval.