Leaders of the BRICS nations are gathering in New Delhi to discuss key global issues. The summit, hosted by Indian Prime Minister Narendra Modi, includes Russian President Vladimir Putin, Chinese President Xi Jinping, Iranian President Masoud Pezeshkian, and other leaders of the bloc. This meeting seeks to strengthen the role of BRICS in representing emerging and developing countries.
The summit arrives at a critical time, with ongoing conflicts in Ukraine and the Middle East, alongside increasing U.S.-China tensions. The bloc strives to find shared ground despite differing geopolitical interests among its members. Security in New Delhi has been heightened, with police and paramilitary forces deployed across the city.
“One of the most important steps is to expand the use of national currencies in trade among the members,” Iranian President Masoud Pezeshkian stated on Friday.
BRICS Cooperation Goals
Founded in 2006, BRICS includes Brazil, Russia, India, China, and South Africa, and has expanded to 11 members. These nations represent around half of the global population and significant economic output. The summit’s agenda includes economic cooperation, energy, food security, technology, and institutional reforms.
Reducing reliance on the U.S. dollar is a priority, with members advocating for the use of national currencies in trade. They are also exploring alternatives to Western financial systems.
Russia and China’s Influence
China and Russia view BRICS as a platform to challenge Western dominance, particularly that of the United States. At the BRICS Business Forum, Putin emphasized that the grouping is open to cooperation globally while prioritizing the interests of its members. Iran supports initiatives to decrease dependence on Western financial systems, given its sanctions situation.
China aims to enhance its influence within BRICS, countering U.S. power. President Xi is set to address major international issues and cooperation within the bloc.
India’s Strategic Balancing Act
For India, maintaining strategic partnerships with Russia and Iran is vital, even as it strengthens ties with the U.S. and Europe. Despite tensions due to the Ukraine war and issues with Iran, India continues to advocate for dialogue and diplomacy.
Before the summit, Modi met separately with Putin and Pezeshkian to discuss bilateral issues. He is also anticipated to meet with Xi to potentially ease tensions following border disputes in 2020.
A significant challenge for India will be securing a joint statement at the summit. In May, BRICS ministers could not agree on a statement regarding the Iran conflict, highlighting the bloc’s divisions.
The summit’s context includes growing fears about the Iran war, triggered by U.S.-Israeli strikes. These events may influence BRICS members’ stances, testing the unity and resolve of the group.
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