Russian President Vladimir Putin has proposed establishing a joint grain market and a new insurance mechanism for BRICS countries to strengthen economic cooperation and facilitate trade among member nations. The proposed grain market aims to improve coordination in agricultural trade, while the insurance mechanism could help make cross-border transactions and shipments easier to manage. These initiatives also reflect efforts to reduce reliance on Western-dominated financial and insurance systems, particularly amid restrictions affecting Russian trade. If implemented, the proposals could strengthen cooperation among BRICS members in agriculture, food security and trade-related services. However, their implementation would depend on further discussions and agreement among participating countries.