Russian President Vladimir Putin arrived in Tianjin, China, on Sunday morning to participate in the 25th Shanghai Cooperation Organisation (SCO) Summit, where he and Chinese officials underscored their commitment to strengthening the BRICS group and called for reforms in global financial institutions.
Speaking ahead of the summit in an interview with China's Xinhua News Agency, Putin highlighted the close cooperation between Moscow and Beijing within BRICS, describing the group as a "key pillar of global architecture." He emphasized the need for a "new financial system" based on openness, fairness, and equal access for all nations, criticizing the use of financial tools as instruments of neo-colonialism.
"Together with our Chinese partners, we support the reform of the International Monetary Fund and the World Bank," Putin said. "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."
Putin also condemned "discriminatory sanctions" that hinder socio-economic development and stressed that BRICS aims for inclusive progress benefiting the Global Majority. He praised Chinese President Xi Jinping's commitment to advancing their partnership and noted that the two countries work closely to expand BRICS' role and economic opportunities for member states.
The SCO summit in Tianjin brings together leaders from India, Russia, China, and other member states. Indian Prime Minister Narendra Modi arrived in Tianjin on Saturday and is scheduled to hold bilateral meetings with both Xi Jinping and Vladimir Putin during the summit.
Putin's delegation includes three deputy prime ministers, over ten ministers, and representatives from major enterprises, reflecting the importance Moscow places on the summit and its agenda.
During his visit, Putin is also expected to attend the Victory Day parade in Beijing, commemorating China’s victory over Japan in World War II, alongside more than 20 world leaders.
The summit discussions focus on security, economic cooperation, digital transformation, and climate issues, with particular attention on strengthening multilateral platforms like BRICS and SCO as pillars of a multipolar world order.
These developments come amid ongoing global economic volatility and geopolitical tensions, including recent U.S. tariffs on Indian imports and accusations against New Delhi regarding its relations with Moscow.
Sources: Xinhua News Agency, The Daily Jagran, Firstpost, Financial Express (all accessed August 31, 2025).
