Russia in key international institutions in 2024

In 2024, the main trends in the system of international institutions are related to the consolidation of two multidirectional vectors of influence. On the one side, Russia and the leading developing countries — China, India, Brazil, Indonesia and South Africa—are playing an increasingly important role and stepping up cooperation to reform the system of international relations in the interests of the global majority states.On the other side,the United States and its partners are seeking to maintain supremacy and control over the processes and institutions of global and regional governance. The G7 countries are forming an ideological basis to change rules of international trade and climate governance and promote their norms and standards as the basis for the emerging international regulation of the digital economy and artificial intelligence (AI) governance. The participants’ conflicting interests make the transformation of the global governance architecture more painful and limit the effectiveness of institutions and their ability to cope with key challenges, such as growing inequality, debt vulnerability, climate change, energy poverty, food security and other. This section deals primarily with the outcomes of Russia’s work in the key informal multilateral institutions—the G20 and the BRICS—in terms of adaptation of the global economic governance system. Also, it analyzes the issues of reforming the IMF and multilateral development banks. Special attention is paid to cooperation within the UN system, the differences on the main provisions of the 2024 Pact for the Future and the decisions of the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change. Also discussed in this section are the main breakthroughs and challenges related with the harmonization of approaches of the members of the regional organizations: the SCO and the EAEU.