Putin presides over BRICS summit seeking to expand Russia's clout

Russian President Vladimir Putin has presided over a closing session of a summit of the BRICS bloc of developing economies, hailing its role as a counterbalance to the West. The three-day summit in the city of Kazan covered the deepening of financial cooperation, including the development of alternatives to Western-dominated payment systems, as well as settling regional conflicts and moving to expand BRICS. The alliance that initially included Brazil, Russia, India, China and South Africa has expanded to embrace Iran, Egypt, Ethiopia, the United Arab Emirates and Saudi Arabia. Speaking at Thursday’s session that included possible future members, Putin said that “our countries share similar aspirations and values and a vision of new democratic global order.”