THE ROLE OF RUSSIA IN THE DEVELOPMENT OF FINANSIAL AND ECONOMIC COOPERATION WITHIN BRICS
Author(s): Ashyrova T., Gorbacheva T.A.
Rubric: Domestic and foreign trade
DOI: 10.21777/2587-554X-2025-4-85-94
Release: 2025-4 (55)
Pages: 85-94
Keywords: BRICS, New Development Bank (NDB), Contingent Reserve Arrangement (CRA), financial cooperation, trade, investment, national currencies, de-dollarization
Annotation: This article examines Russia’s role in BRICS economic cooperation through institutional and real-sector channels during 2015–2025. Using content analysis of strategic documents alongside statistical examination of financial and trade indicators, the study evaluates Russia’s engagement with the New Development Bank and Contingent Reserve Arrangement, as well as bilateral trade dynamics with BRICS partners. Russia holds 20 % NDB equity with USD 4,7–5 billion in approved projects, though operations were suspended in 2022. Within the CRA, Rus- sia contributes USD 18 billion but the mechanism remains unused. Comparative analysis of BRICS strategic documents (2016–2024) and Russian policy frameworks confirms alignment on multipolar financial architecture, infrastructure development, digital economy integration, and alternative settlement systems. However, structural asymmetries particularly Russia’s growing dependence on China for trade and logistics constrain deeper integra- tion. The study concludes that Russia’s strategic priorities center on expanding NDB project pipelines, develop- ing interoperable payment infrastructure for local currency settlements, and targeting high-multiplier sectoral projects in transport, energy technology, and industrial cooperation. These findings contribute empirical evidence on Russia’s evolving position within BRICS amid geopolitical restructuring and Western sanctions pressure.
Bibliography: Ashyrova T., Gorbacheva T.A. THE ROLE OF RUSSIA IN THE DEVELOPMENT OF FINANSIAL AND ECONOMIC COOPERATION WITHIN BRICS // Economics and Management. – 2025. – № 4 (55). – С. 85-94. doi: 10.21777/2587-554X-2025-4-85-94