Foreign ministers of BRICS nations discussed the impact of unjustified restrictions on organization members.
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Foreign ministers of BRICS countries held discussions on the impact of unjustified unilateral measures that contradict the norms of the World Trade Organization. Meeting participants acknowledged that BRICS nations represent a broad diversity of societies and civilizations, which suffer differently from unjustified unilateral restrictions. The discussion reflects the bloc's position on protecting the interests of its members amid trade conflicts.
BRICS foreign ministers condemned unilateral sanctions that violate WTO norms, recognising them as particularly harmful to the bloc's diverse economy. The member countries reaffirmed their commitment to multilateral trade and their intention to coordinate the protection of their interests against economic pressure from individual states.
BRICS's consolidated position against unilateral sanctions may affect the trade conditions of Russian and other bloc companies — from export prices to import availability. Enhanced coordination among the member countries could slow the pressure of sanctions regimes and create alternative trade mechanisms, which will impact the cost of goods and services for consumers.
Mehmet Yılmaz