Putin welcomes Iran, India, China to BRICS Summit to discuss 'new world order' to challenge the West

This week Russian President Vladimir Putin convened over two dozen countries to discuss a “new world order" free from western hegemony and the global dominance of the U.S. dollar.

By reducing reliance on the dollar, the alliance hopes to evade sanctions imposed by the U.S. and the West.

"The dollar is being used as a weapon," Putin said at the summit. "We really see that this is so. I think that this is a big mistake by those who do this." 

In a pivotal move, Chinese President Xi Jinping and Indian Prime Minister Narendra Modi used the summit to showcase their hopes for a more harmonious relationship after decades of cross-border strife.