Russian President Vladimir Putin is currently welcoming nearly twenty world leaders at a summit intended to challenge Western leaders who have sought to isolate Russia economically since its invasion of Ukraine over two years ago.

Putin emphasized that the BRICS summit is founded on “shared values, a unified vision for development, and most importantly, the respect for each other’s interests,” he stated on Tuesday.

When questioned by the press on how this vision aligns with his military actions in Ukraine, Putin firmly asserted that he will not relinquish control of Ukrainian territories currently held by Russia, including Crimea, which was annexed ten years ago, as well as the eastern Donbas, Zaporizhzhia, and Kherson regions.

Just four days prior, Putin mentioned that achieving a “lasting peace” in Ukraine is essential for Russia’s security. However, he declared that Russia will continue its military efforts until it secures victory.

His comments were made as U.S. Secretary of Defense Lloyd Austin disclosed an additional $400 million in military assistance for Ukraine during his visit to Kyiv on Monday. Ukrainian President Volodymyr Zelenskyy indicated that the U.S. is preparing two more aid packages totaling up to $800 million for the strained Ukrainian military.

The original BRICS group included Brazil, Russia, India, and China and has expanded to encompass nations that together represent 45% of the world’s population. The summit in Kazan, a city along the Volga River with approximately 1.3 million residents, will feature leaders from 22 nations.

Upon arrival in Kazan, Chinese President Xi Jinping expressed his pleasure to be present, meeting with Putin, whom he described as his “dear friend.” Both leaders have strengthened their economic and military collaborations since Russia’s conflict with Ukraine has driven it away from Western trade.

The night before the summit, Indian Prime Minister Narendra Modi urged Putin that the conflict in Ukraine should be resolved solely through peaceful means.

“We strongly endorse the prompt restoration of peace and stability. Humanity must take precedence in all our efforts,” Modi stated.

Brazilian President Luiz Inacio Lula da Silva, however, will participate in the summit virtually, having recently encountered a minor brain hemorrhage due to a head injury sustained at home over the weekend.

Strengthened Russia-China relations following Ukraine conflict

The United States imposed stringent sanctions on Russia following its invasion of Ukraine in February 2022, targeting Russian financial institutions, prohibiting U.S. imports of Russian energy, and placing personal restrictions on Russian oligarchs close to Putin.

Despite the sanctions’ effects, some U.S. lawmakers argue that they haven’t struck the Russian economy hard enough.

At the BRICS summit, Putin aims to counter Western attempts to suppress the Russian economy. The BRICS members account for 35% of the global economy based on purchasing power, with China contributing approximately half of this economic strength. It is projected that their share of the global GDP will rise to 37% by 2030, as per International Monetary Fund statistics.

Since the Ukraine invasion, Russia and China have deepened their military and economic partnerships, resisting U.S. and Western pressures urging China to denounce Russia. In a meeting in May, Putin told Xi, “Together, we uphold the ideals of justice and a democratic world order that reflects multipolar realities based on international law.”