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Al-Baghdadi may have been killed in northern Syria, Moscow says.
Russia and Western nations also find themselves on opposing sides of the Syrian civil war.
The forum called on NGOs BRICS NGOs to reduce poverty and focusing on health and environmental protection.
BRICS' Russia and Brazil will in 2017 emerge from weak growth and head strong into 2018, the report says.
South Africa's economy grew by 1% year on year in Q1 2017, but contracted by 0.7% quarter on quarter.
Iranian officials have criticized the Arab move saying it was counterproductive to regional stability.
SPIEF is an annual Kremlin-run, high-profile gathering of business and political figures.
The disputed islands were occupied by Soviet forces in 1945 and are today home to thousands of Russian civilians.
Experts believe the central bank will keep interest rates at 6.25 per cent despite the latest economic data.
