Foreign ministers from the expanded BRICS grouping gathered in New Delhi on Thursday as escalating regional conflicts and energy insecurity dominated discussions during the two-day meeting.
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Opening the session, Subrahmanyam Jaishankar warned that the world was facing “considerable flux” due to ongoing wars, economic uncertainty, and disruptions affecting trade, energy, technology, and climate cooperation.
Among the key participants were Abbas Araghchi and Sergei Lavrov, as the bloc discussed the impact of the Iran conflict and instability in the Gulf region on global markets.
India, which currently holds the BRICS chairmanship, hosted ministers from the expanded alliance that now also includes Iran, Saudi Arabia, United Arab Emirates, Egypt, Ethiopia and Indonesia alongside founding members.
Disruptions around the Strait of Hormuz have created volatility in global oil and gas markets, placing additional pressure on energy-importing economies such as India, which relies heavily on Middle Eastern fuel supplies.
Jaishankar stressed that issues related to energy, food, fertiliser, healthcare, and financial access remain central concerns for developing economies and emerging markets.
The ongoing regional crisis has also pushed India to increase crude oil imports from Russia, reviving energy ties despite previous efforts to diversify imports amid Western pressure and tariffs.
Jaishankar held separate talks with Lavrov on Wednesday, focusing on trade, connectivity, investment, and energy cooperation in what he described as an increasingly “uncertain and volatile global environment.”
Founded in 2009, BRICS was initially formed by Brazil, Russia, India, China, and South Africa as a platform for emerging economies seeking greater influence in global affairs.
India is expected to host a BRICS leaders’ summit later this year, though it remains unclear whether the current ministerial meeting will conclude with a joint statement due to divisions among member states over the Middle East conflict and broader geopolitical issues.
