The BRICS Summit has adopted criteria for a partner status, Russia has ratified a comprehensive partnership treaty with North Korea, and Canadian Prime Minister Justin Trudeau may face pressure to resign. These stories dominated the headlines in Friday's newspapers across Russia, according to TASS News Agency.
Izvestia: Kazan Summit introduces BRICS partner status, showcasing global economic unity
The 16th BRICS Summit, one of Russia’s most significant international events in 2024, has concluded in Kazan in the Volga region. A key decision made during the summit was the approval of a new category for partner countries, as stated by Russian President Vladimir Putin on October 24. It is anticipated that 13 countries, including Belarus, will join the group with partner status. Among the economic innovations discussed, the forum addressed the need for a new payment system in light of the ongoing de-dollarization process. Additionally, the summit covered regional conflicts, including events in the Middle East and the Ukraine crisis. Several leaders noted the UN's inability to resolve current conflicts, such as the one between Palestine and Israel. Putin called for the organization’s structure to be adapted "to the reality of the 21st century." Meanwhile, the UN itself believes that BRICS could play a role in strengthening international security.
Mubarak Al-Ati, a Saudi political analyst, told Izvestia that at the summit, Putin successfully brought together 35 countries, showcasing the effectiveness of Russian diplomacy despite Western sanctions. He believes the summit reaffirms the economic and political interests that link Russia with the international community.
Political scientist Dmitry Yelovsky remarked that the Kazan summit was attended by leaders from countries representing nearly half of global Gross Domestic Product (GDP), effectively dispelling the myth of Russia’s isolation. This development has significantly irritated the West, which is likely to respond, he added.
The main outcome of the summit was the adoption of the list of partner states. According to Viktoriya Panova, head of the BRICS Expert Council and vice rector of the National Research University Higher School of Economics, the introduction of this new category will allow these countries to engage in projects that interest them "without overstraining their national resources."
"Gradually, partner states will come to understand how BRICS operates. This also facilitates smoother integration without compromising efficiency. Moreover, some countries may prefer not to assume obligations regarding all BRICS components, making partner status more appealing to them," she told Izvestia.
Additionally, participants discussed the development of a new global financial and payment system. The Russian Finance Ministry has already announced the launch of the BRICS Bridge platform for transactions in national currencies, including digital ones. Panova believes that the group is gradually returning to discussions on the issue of ditching the dollar.
Vedomosti: Russia-North Korea treaty ratified amid speculation on DPRK troops deployment
The comprehensive partnership treaty between Russia and North Korea, signed during Russian President Vladimir Putin’s visit to Pyongyang in June, was unanimously ratified by the Russian State Duma on October 24. According to the document, in the event of armed aggression against either side, Russia and North Korea must immediately activate bilateral channels "to coordinate their positions and potential practical means for providing assistance." Provision 4 specifies that if one of the countries is under armed attack, the other must provide military and other aid "by all available means." Russian Deputy Foreign Minister Andrey Rudenko stated that Russia expects the treaty to be ratified in North Korea soon as well.
The partnership between North Korea and Russia is primarily a political rather than a military matter, where the two countries’ armies are compelled to "unite against a common enemy," pointed out Konstantin Asmolov, a leading research fellow at the Korean Studies Center of the Russian Academy of Sciences’ Institute of China and Contemporary Asia.
Although Russia and North Korea have not officially confirmed the deployment of North Korean troops, there is potential for "North Korean participation," noted Vasily Kashin, director of the Center for Comprehensive European and International Studies at the Higher School of Economics. He indicated that citizens from third countries are actively participating in combat. "If North Koreans arrive at the frontlines, they will be wearing Russian uniforms and carrying Russian documents, as yet another group of foreign volunteers," he suggested.
In response, South Korea may send its scouts to Ukraine, but Kashin believes this will not significantly affect the situation. "The South Koreans are more concerned about potential Russian arms deliveries to Pyongyang, which is completely unacceptable for them," the expert concluded.
Nezavisimaya Gazeta: Canadian PM facing pressure to resign amid party turmoil
Canadian Prime Minister Justin Trudeau is under serious pressure from within his own party. At a closed meeting with Liberal members, he faced an ultimatum: resign and allow time for his successor to prepare for the 2025 parliamentary elections, or deal with an intraparty uprising. The Liberal Party of Canada is likely to struggle in the upcoming elections due to Trudeau’s leadership and his lengthy tenure.
Natalya Vyakhireva, an expert at the Russian International Affairs Council (RIAC), believes that Trudeau’s declining popularity is a result of his long time in office. In Canada, where democratic values prevail, lengthy terms are often unwelcome. This fatigue with a long-serving prime minister partially explains the Liberals’ victory in 2015; at that time, the Conservatives had been in power long enough, but now the tables have turned, and the public has grown weary of the Liberals.
Additionally, not everyone is satisfied with Trudeau’s policies. "By Canadian standards, the unemployment rate is relatively high, housing prices are rising, and inflation remains a concern. Moreover, Trudeau’s immigration policy faces criticism for accepting too many migrants and refugees. Although Trudeau promotes his immigration policy as a success, not everyone in Canada agrees. For instance, the influx of migrants is straining the healthcare system, which already faces challenges regarding operations and accessibility, and it generally increases the burden on infrastructure," Vyakhireva told Nezavisimaya Gazeta.
She added that there is indeed a split within Canada’s Liberal Party; however, the party has not yet identified a specific candidate to replace Trudeau.
"Currently, party members lack a legal mechanism to ‘remove’ their leader. He can only resign voluntarily; in that case, the party members can select his successor," the expert concluded.
Izvestia: EU considers new restrictions on Georgia amid concerns over upcoming elections
The European Union may impose new restrictions on Georgia, including the possibility of suspending the visa-free regime. Further measures will depend on the country’s parliamentary elections, the European Commission told Izvestia. Currently, the EU has already suspended Georgia’s Eurointegration process. However, the ruling party, which leads in pre-election surveys, insists on maintaining its course toward EU membership. Experts believe that securing electoral victory is the ruling party’s top priority, even if it means approving laws that may displease Brussels.
"Despite the Georgian authorities' commitment to aligning with Europe and NATO, Brussels and Washington left them no choice but to adopt the foreign agents law to end the long-standing West-sponsored anti-government campaign in the country," said Nikolay Silaev, a leading researcher at the Institute of International Studies at MGIMO.
"The government kept saying: ‘We are your allies; let’s not act this way,’ but nothing changed—the campaign only became more aggressive. The authorities realized that if the government in Georgia were to change, they would face trouble, as former leaders would return, targeting those they oppose," he added.
According to Silaev, by attempting to link the upcoming elections with the Eurointegration issue, Brussels is openly interfering in the electoral process. "The EU claims strategic autonomy and positions itself as a global player. We saw how it acted during the Moldovan elections, and it is now applying the same approach to Georgia, essentially saying, ‘If you don’t vote for our candidates, there will be consequences,’" he noted.
Vadim Mukhanov, head of the Caucasus sector at the Center for Post-Soviet Studies at the Institute of World Economy and International Relations, believes the European Commission’s statements should be seen as pre-election rhetoric aimed at demonstrating Western discontent with the current government.
"These are rhetorical threats, not concrete actions. We must wait for the election results to determine whether Georgia will engage with the West or resist it. The situation hinges on the election outcomes and the extent to which Georgian Dream can control the parliament, form a stable cabinet, and implement radical reforms, or if it will lead to a coalition government that is more favorable to the West," he concluded.
Kommersant: Palladium price rises amid threat of new anti-Russian sanctions
The price of palladium on the global market has surged to $1,170 per troy ounce, marking the highest level in ten months. Over the course of a single day, it jumped by more than 10%, outpacing other precious metals. This increase reflects the market's reaction to a proposal by the US to impose restrictions on palladium exports from Russia, the largest producer of this metal. Despite this, experts estimate that the likelihood of such restrictions being implemented is minimal and expect the price to stabilize around the usual level of $1,100 per ounce.
Should sanctions actually be imposed, the price of palladium could rise even further, although not likely to double the current price, experts believe. This potential increase would be moderated by the automotive industry's ongoing shift toward electric vehicles, which require minimal amounts of palladium, as well as the possible substitution of palladium with other metals. "Extremely high palladium prices may compel automakers to utilize other precious metals, such as platinum and rhodium. Therefore, we do not anticipate significant price spikes in the mid-term," said Finam analyst Alexander Potavin.
European consumers are expected to be among the most affected, as they will need to find alternatives for Russian supplies. "The Russian mining industry may follow the example of oil producers and develop alternative supply routes. This could reduce profit margins but help maintain external markets for Russian palladium," Potavin added. In this scenario, Asian countries, which already receive half of Nornickel’s palladium exports, are likely to benefit the most.
TASS is not responsible for the material quoted in these press reviews
