Putin Proposes BRICS Grain Insurance System and Independent Trade Paths at New Delhi Summit

Source: नवभारत टाइम्स | Original Published At: 2026-09-14 05:05:49 UTC

Key Points

• At the BRICS summit in New Delhi, Russian President Vladimir Putin proposed a new insurance system for grain markets and joint work among BRICS members.
• Putin said BRICS countries have the capacity to operate independently from the Western-dominated trade system and invited members to benefit from Russia's proposals.
• He emphasized the need for a BRICS insurance mechanism due to restrictions on Russian crude oil and grain export ships, including difficulties involving Russia's shadow fleet.
• Putin urged BRICS and Global South countries to adopt a comprehensive approach to global challenges, improve global governance structures, and address traditional and non-traditional security threats.
• Statements by Russia, China, and Iran at the summit reflected efforts to build alternatives to Western-dominated systems, while India during its presidency sought to prevent BRICS from becoming an anti-West bloc.