Insights from the BRICS Summit: Highlights of the Kazan Declaration

The Kazan Declaration from the recent BRICS summit in Russia covered several key issues:

On Ukraine: Emphasized the need for all states to adhere to the UN Charter principles, encouraging peaceful conflict resolution through diplomacy and mediation.

On the Middle East: Expressed concern over the humanitarian crisis in Palestinian territories and Southern Lebanon, condemning civilian casualties and infrastructure damage caused by Israeli military actions, and called for an immediate cessation of hostilities.

On Western Sanctions: Voiced deep concern about the impact of unilateral sanctions on the global economy and trade.

On International Financial System Reform: Highlighted the necessity to reform the global financial architecture to be more inclusive and equitable.

On BRICS Initiatives:

• Grain Exchange: Supported the creation of a BRICS Grain Exchange to expand agricultural trade.
• Cross-Border Payment System: Encouraged the use of local currencies and improved cross-border payment systems within BRICS.
• Clear Depositary: Discussed establishing a BRICS-specific financial settlement and depositary infrastructure.
• Financial Innovation: Supported innovative financing approaches through the BRICS Interbank Cooperation Mechanism.
   

On Global Financial Institutions:

• IMF: Reaffirmed support for a quota-based, adequately resourced IMF.
• G20: Acknowledged the importance of consensus-driven and effective G20 operations.
   

On Pandemic Preparedness: Endorsed BRICS initiatives for vaccine development and early disease warning systems.

On Conservation of Big Cats: Noted India’s proposal for an International Big Cats Alliance to strengthen efforts in big cat conservation within BRICS nations.