On Tuesday, Russian President Vladimir Putin claimed that the US dollar is losing its influence on the world stage in a "real and irreversible" process. Putin made this statement to attendees of the BRICS Summit in South Africa via videolink after declining to physically attend the meeting. . The de-dollarization, according to RT, is "gaining momentum," and members of the group of major emerging economies are attempting to lessen their reliance on the dollar in cross-border trade. According to the Russian leader, the five countries—Russia, China, India, Brazil, and South Africa—are emerging as the new economic superpowers and now account for 26% of the world's GDP. . According to purchasing power parity, BRICS have already surpassed the G7, the world's leading industrialized nations, accounting for 31% of the global economy to the G7's 30%. . Mutual investment among BRICS member states has multiplied six-fold over the last ten years. Putin noted that while their cumulative exports comprise 20% of the world's total, their total investments in the global economy have increased by a factor of two. . To ensure an unbroken supply of energy and food to the global market, Moscow is concentrating on re-orienting its transport and logistics routes toward "reliable foreign partners," including BRICS members. . According to Putin, two of Russia's main objectives are to develop the Northern Sea Route and the "North-South" transportation corridor. . The first, he continued, will ensure faster cargo shipments between Europe and the Far East by traversing the Arctic Ocean along Russia's northern coastline. The second will facilitate cargo movement between Eurasian and African countries by linking Russia's northern and Baltic ports to the Persian Gulf and the Indian Ocean. . The Russian president claimed that his country was actively promoting global food and energy security by "consistently increasing fuel, food, and fertilizer supplies to the states of the Global South.". He referred to the West's unilateral sanctions as "illegal" and blamed them for the current global food crisis. ". . It is against the rules of free trade and economic cooperation to "unlawfully freeze the assets of sovereign states," and illegitimate sanctions "seriously weigh on the international economic situation.". . . Sergey Lavrov, the foreign minister of Russia, is in attendance at the Johannesburg summit, which takes place from August 22 to 24. . . After the International Criminal Court (ICC) decided to issue a warrant for his arrest in March, Putin made the decision not to go to the event. The court based its decision on Ukraine's claim that the Russian evacuation of children from the conflict area during the two countries' hostilities amounted to "unlawful population transfers.". ". . As a signatory to the Rome Statute of the ICC, South Africa was under pressure from the US and its allies to place Putin in detention should he enter the nation. Moscow has consistently refuted the accusations made by the ICC and emphasized that it does not recognize the court's jurisdiction, deeming the warrant to be legally void. . . Moscow ultimately decided to send Foreign Minister Sergey Lavrov to the BRICS summit to represent Russia, despite South African President Cyril Ramaphosa's repeated declarations that he would not follow the order because it would be equivalent to a "declaration of war." .
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