Russian President Vladimir Putin said on Wednesday that Russia was in the process of rerouting its trade and oil exports towards countries from the BRICS group of emerging economies in the wake of Western sanctions over Ukraine.
The BRICS countries comprise Brazil, Russia, India, China and South Africa.
The West has imposed sweeping sanctions on Russia, including restrictions on imports of its oil, after the Kremlin sent its troops into Ukraine on February 24.
In order to weather the sanctions, Russia is trying to forge closer ties with Asia, seeking to supplant the markets it lost in the row with the European Union and the United States.
In a video address to the BRICS Business Forum participants, Putin said Russia was discussing increasing the presence of Chinese cars on the Russian market as well as the opening of Indian supermarket chains.
“In its turn, Russia’s presence in the BRICS countries is growing. There has been
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