Vladimir Osakovsky

Chief economist

Unicredit

The countries were united in BRIC mostly because of their size; this factor hasn't changed in Russia. Otherwise, regarding all other aspects such as economic structure, development level and demographic rates - all these countries are different. In this regard I suppose analysts should better use other formations, such as G20 for example.

Natalya Orlova

Chief economist

Alfa Bank

The concept of BRIC wasn't very uniform from the outset - it was created to describe financial markets in a comfortable way for investors. While India and China have vast human resources, Brazil and Russia are the key suppliers of oil. These countries have been united into one group because of their booming growth. Russia's slowing down is the reason for it to leave the group.

This poses the question of whether the BRIC term should still [be used], because it's too small and the ties between the countries are not really tight.

Vladimir Bragin

Strategist

Trust Bank

Today Russia looks much less attractive for foreign investors than the other BRIC countries, so it's reasonable that it is becoming an outsider. Leaving BRIC would mean that economic and political changes in the country had not shown a proven benefit. It's in Russia's interest to stay in the group. 

- Anna Sulimina