The week’s key developments across BRICS+
Power of Siberia 2 becomes Power of Baikal and prepares for launch
The Power of Siberia 2 gas pipeline project has been renamed Power of Baikal and is in the final stages of preparation before construction begins, the Minister of Energy Sergei Tsivilev said. The roughly 2,600-km pipeline is set to link Yamal fields with China via Mongolia and carry up to 50 billion cubic metres of gas a year, exceeding the existing Power of Siberia, which delivered 38 billion cubic metres to China in 2025. Russia and China are expanding other energy flows in parallel: pipeline gas supplies are rising and the Far Eastern route is being prepared for launch, Deputy Prime Minister Alexander Novak said. Russia also remains China’s largest oil supplier for the fourth year running, with annual deliveries exceeding 100 million tonnes; in the first seven months of 2026 they reached 67 million tonnes, a record 23% of Chinese oil imports.
EEF 2026: a record portfolio of agreements
The Eastern Economic Forum in Vladivostok closed with 328 agreements signed for a combined 6.81 trillion roubles, a record sum according to presidential adviser Anton Kobyakov. More than 9,300 people took part, and the forum as a whole drew representatives from 78 countries, among them Indonesian President Prabowo Subianto, Mongolian Prime Minister Nyam-Osoryn Uchral, Myanmar Vice President Nyo Saw and Chinese Vice Premier Ding Xuexiang. The largest deals were in transport infrastructure: the Mohe-Naiba international corridor is valued at more than 1.13 trillion roubles, the investment mechanism for the Trans-Arctic corridor at 1 trillion roubles, and the agreement with Rosatom on Arctic development at 724.3 billion roubles.
Indonesia proposes doubling trade with Russia following the EAEU agreement
Speaking at the EEF, Indonesian President Prabowo Subianto proposed doubling bilateral trade with Russia over the initial review period of the free trade agreement between Indonesia and the EAEU. He pointed to the complementary nature of the two economies as the basis for growth: Indonesia supplies palm oil, coffee, fish products, rubber and textiles, while Russia offers wheat, fertilisers, energy and engineering technology. Jakarta also positions itself as a gateway to the ASEAN market of some 680 million people. Indonesia is expected to join the EAEU in the near future.
Egypt’s economy grew 5.1%, well above forecasts
Egypt’s GDP rose 5.1% in the 2025/26 fiscal year, up from 4.4% a year earlier. The result came in above the expectations of international institutions, with the IMF having forecast growth of around 4.6%. Non-oil manufacturing was the main driver, expanding 9%; together with trade and telecommunications it accounted for 48% of total economic growth. Suez Canal activity recovered markedly, rising 23.3% over the year and 33.8% in the fourth quarter, pointing to a normalisation of shipping in the Red Sea.
China and the US to hold first talks on AI safety
China and the United States are preparing to hold their first official bilateral talks devoted exclusively to artificial intelligence safety in mid-September, two sources familiar with the preparations told Reuters. The agenda centres on joint monitoring of AI-enabled cyberattacks, information sharing on incidents and possible self-policing mechanisms for leading labs. Beijing views the dialogue as one of the key deliverables of the upcoming summit between the two countries’ leaders on 24 September.
