This year's virtual Brazil, Russia, India, China and South Africa (BRICS) summit hosted by Beijing saw both Russia and China blame the west for what they called "weaponsing the global economy". In its first forum with the heads of major economies since launching an invasion of Ukraine, Vladimir Putin called for support from member nations against what he labelled "selfish sanctions". The Russian President also accused the west of shifting the weight of their policy mistakes onto the global economy.A new global reserve currency is also on the anvil, according to President Putin who added that members are already developing alternate mechanisms for international payments. The tone was similar to that of Chinese Premier Xi Jinping. He asked member nations to oppose the "abuse" of unilateral sanctions and reject the formation of "small circles", in an apparent jibe at the United States.Also Read: Government unlikely to extend free foodgrain scheme for the poorThe Russia-Ukraine conflict was a point of discussion amongst the BRICS nations as well with the joint declaration reiterating support for peace talks between the two nations.However, in his address, Prime Minister Narendra Modi skipped the Ukraine issue, instead focusing on economic recovery following the pandemic. Urging BRICS members to cooperate, PM Modi underlined that this is the chance to make a useful contribution to the global post-COVID recovery.These opening remarks will be followed by meetings between member nations and signing of key agreements. Ashok Kantha, former Indian Ambassador to China, discussed the BRICS summit and its significance in today’s geopolitical situation.Russia’s invasion of Ukraine will continue to be on the agenda as leaders of the world’s richest nations will meet in Germany on Sunday. New measures that are pressuring Russia for its actions seem to be the priority with both American and German officials hinting at further measures.Prime Minister Narendra Modi has been invited as a special guest to this meeting. This has created expectations of pressure from the G7 when it comes to the purchase of Russian oil, a request that the Modi government has turned down. So what one can expect from this meeting? Anil Trigunayat, former Diplomat and Distinguished Fellow at Vivekananda International Foundation (VIF), and Jayant Dasgupta, former Indian Ambassador to the World Trade Organisation, discuss this.For the entire discussion, watch the accompanying video.