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FACTOBOX-Main points from the BRICS declaration

Below are the bottom lines from the Kazan declaration issued by the BRICS group after a summit in Russia.

ON UKRAINE:

We emphasize that all states must act regularly with the Purposes and Principles of the UN Charter in their whole and interrelation. We note with appreciation relevant proposals of mediation and excellent workplaces, focused on a peaceful resolution of the conflict through dialogue and diplomacy.

ON THE MIDDLE EAST:

We restate our severe issue at the degeneration of the situation and humanitarian crisis in the Occupied Palestinian Territory, in particular the unprecedented escalation of violence in the Gaza Strip and in West Bank as a result

of the Israeli military offensive, which resulted in mass killing and injury of civilians, forced displacement and extensive damage of civilian facilities.

We reveal alarm over the scenario in Southern Lebanon. We condemn the loss of civilian lives and the immense damage to civilian facilities resulting from attacks by Israel in residential areas in Lebanon and require instant cessation of

military acts.

ON WESTERN SANCTIONS:

We are deeply worried about the disruptive impact of illegal unilateral coercive steps, including unlawful sanctions, on the world economy, worldwide trade, and the achievement of the sustainable advancement objectives.

ON THE INTERNATIONAL FINANCIAL SYSTEM'S REFORM:

We underscore the need to reform the present worldwide financial architecture to satisfy the worldwide financial challenges consisting of global economic governance to make the worldwide monetary architecture more inclusive and simply.

ON BRICS GRAIN EXCHANGE:

We invite the initiative of the Russian side

to develop a grain (products) trading platform within BRICS (the BRICS Grain Exchange) and to consequently establish it including broadening it to other agricultural sectors.

ON BRICS CROSS-BORDER PAYMENT SYSTEM:

We recognise the extensive benefits of faster, low expense, more effective, transparent, safe and inclusive cross-border payment instruments built upon the concept of minimizing trade barriers and non-discriminatory gain access to. We invite making use of regional currencies in financial transactions between BRICS nations and their trading partners.

ON BRICS CLEAR DEPOSITARY:

We consent to talk about and study the expediency of establishment of an independent cross-border settlement and depositary facilities, BRICS Clear, an effort to enhance the existing financial market facilities, too as BRICS independent reinsurance capability, including BRICS

( Re) Insurance Company, with participation on a voluntary basis.

ON FINANCIAL INNOVATION:

We invite the BRICS Interbank Cooperation Mechanism (ICM). concentrate on facilitating and expanding innovative financial. practices and methods for projects and programmes, consisting of. discovering acceptable mechanisms of financing in local

currencies.

ON THE IMF:

We reaffirm our commitment to preserving a strong and. effective Global Financial Safety Net with a quota-based and. sufficiently resourced IMF at its centre.

ON G20:

We identify the value of the continued and efficient. operating of the G20, based upon consensus with a focus on. result-oriented results.

ON AVOIDANCE OF FUTURE PANDEMICS:

We support the initiatives of the BRICS R&D Vaccine Center,. further advancement of the BRICS Integrated Early Caution System. for preventing mass infectious diseases dangers.

ON BIG CATS:

While valuing the efforts of our countries to preserve. unusual species and keeping in mind the high vulnerability of huge cats, we. take note of the Republic of India's initiative to develop an. International Big Cats Alliance and encourage BRICS countries

to interact to make more contributions to the. preservation of huge cats..

(source: Reuters)