Putin Proposes Grain and Rare Metals Exchange at BRICS Summit
During the 16th BRICS Summit held in Kazan, Russia, President Vladimir Putin emphasized the need for a grain exchange among member states to bolster food security and stabilize prices. Highlighting the potential for cooperation among major grain producers like Russia and China, Putin stated that such an exchange would ensure reliable supplies and fair pricing for grains, which are crucial for national food security. He also suggested the establishment of a stock exchange for trading rare and precious metals, addressing the increasing global demand amid supply constraints.
Putin's remarks came as he welcomed offers from several BRICS countries to mediate in the ongoing conflict with Ukraine. Kremlin spokesman Dmitry Peskov reported that Putin acknowledged progress on the ground and noted the positive dynamics for Russian forces. The Russian President warned that the escalating economic sanctions and protectionism could lead to a global crisis, emphasizing the interconnectedness of geopolitical tensions and economic stability.
