Speaking at the BRICS parliamentary forum in St Petersburg, Russian President Vladimir Putin on Thursday accused the West of attempting to maintain a monopoly.
“Pressure is growing on everyone who has their own position. Contrary to the principles of international law, coercion, unilateral sanctions, selective application of trade rules, and blackmail are used,” he said.
The group, comprising Brazil, Russia, India, China, and South Africa, welcomed five new members in January, including Iran and Egypt.
Putin said that by acting together, BRICS countries would achieve a safer and more harmonious world.
“We will be able to achieve the maximum implementation of the economic, investment, technological, and human potential of our countries, and strengthen the constructive influence of BRICS on global processes,” he said.