8:00 ▪ ▪
4
min at reading ▪
Global geopolitical balance changes. Russia, which was a member of the G8 for some time before its exclusion in 2014, now accepts a radically different posture. Given what he considers to be the decline in the influence of Western powers, Moscow now favors BRICS and G20 at the expense of G7 considered obsolete. This strategic reconfiguration exceeds a simple diplomatic adjustment, illustrates a wider change in the dynamics of power, where the developing economies acquire the ground in the face of institutions dominated by the West. Through a statement by his ambassador to Canada, Russia confirms its final release from G7 and monitors the outlines of the new international order.
Estimated G7 rejection and a new strategic ceiling
“Russia is not interested in returning to G7.” This format is exceeded and no longer reflects the reality of the current world order, ”said Oleg Stepanov, Russian ambassador to Canada. According to him, this group, which has historically joined the great Western economic forces, no longer has the ability to effectively influence global affairs. The exclusion of Russia in 2014, after the Crimea was connected, meant the end of the integration of Moscow in this limited club. Since then, Russia has gradually moved away from the structures led by the West and has not tried to negotiate a return to G7.
According to Stepanov, global management mechanisms must adapt to new multipolar reality. It emphasizes BRICS, organization for cooperation in Shanghai (SCO) and G20 as alternatives more representative for current economic and political balances. “We chose real platforms for global administration,” he added. In addition, it emphasizes that Russia is trying to rely on the Alliance, where developing economies have a central role, unlike what it perceives as Western domination within G7.
BRICS and G20, new Russia priorities
If Russia relies on BRICS and G20, it is primarily to strengthen its presence in organizations where the West does not determine these rules. BRICS has gained dynamics in recent years and its aim is to create anti -western institutions. Thanks to the integration of new members and the development of alternatives on dollars based on dollars, this coalition becomes an essential player on the international scene.
Meanwhile, the G20 represents a more balanced dialogue space if the established economic forces and developing countries are mixed. For Moscow, this set is a strategic lever that allows us to consider global economic discussion without being forced by western geopolitical blockades. This strategic settlement could also support the development of alternative currencies and transactions in crypts that would bypass economic sanctions and control of the traditional financial system.
Such a focus from Russia on blocks such as BRICS and G20 illustrates a progressive shift to the multipolar world. During its distance from the G7, Moscow seeks to reduce its exhibition to Western influence, but also to define the standards of international cooperation. This choice could speed up economic changes in administration, which focused less on the dollar and open the door to the wider acceptance of decentralized financial solutions. Fragmentation of the World Economic Order is going on, and Russia seems to be one of the main architects.
Maximize your Cointribne experience with our “Read to Earn” program! For each article you read, get points and approach exclusive rewards. Sign up now and start to accumulate benefits.
Graduate of Science after Toulouse and holder of Blockchain Consultant Certification, published by Alyrou, joined the adventure of Cointtribuni. The general public about this constantly evolving ecosystem. My goal is to allow everyone to better understand blockchain and take the opportunity they offer. I try to provide an objective analysis of messages every day, decrypt trends on the market, hand over the latest technological innovations and introduce the economic and social issues of this revolution.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.