Valdai Club

The BRICS summit in Kazan was about making the first steps towards the reforming of the international financial system so that it promotes, rather than hinders, the economic development of countries while de-risking transactions between them. If the existing international financial system does not serve its principal purpose of facilitating financial transactions between nations and compensating for the disbalances in international trade then a growing number of countries will seek to establish additional pillars in the financial architecture, Shamil Yenikeyeff writes.

In the context of the transformation of the global energy order, the issue of increasing the role of the SCO Energy Club in managing energy processes at various levels is more acute than ever, writes Shamil Yenikeyeff, Professor, School of International Affairs, Faculty of World Economy and International Affairs, Higher School of Economics.