Russia is rerouting trade and oil to BRICS countries: President Vladimir Putin
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 Feb. 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.
