BRICS Ministers Meet Amid Iran War

Foreign ministers from the expanded BRICS bloc, including Iran and Russia, convened in New Delhi, India, to address global challenges. India, holding the BRICS chair, emphasized the 'considerable flux' in international relations, driven by the conflict involving Iran, economic uncertainties, and energy insecurity. The conflict, launched by the United States and Israel on February 28, has significantly impacted oil and gas markets, particularly through disruptions in Gulf shipping routes and the Strait of Hormuz. India's economy, heavily dependent on Middle Eastern energy and fertilizer imports, faces strain and an uncertain growth outlook. In response, India has diversified its crude oil suppliers, notably increasing purchases from Russia despite previous efforts to reduce dependence due to US tariffs. Key attendees included India's Foreign Minister S. Jaishankar, Iran's Abbas Araghchi, and Russia's Sergey Lavrov, with Jaishankar and Lavrov holding bilateral discussions on trade, investment, energy, and connectivity. China's Foreign Minister Wang Yi was absent due to US President Donald Trump's visit to Beijing. The meeting also revealed deep divisions among BRICS members, particularly over the Middle East conflict and Western powers, raising uncertainty about a joint statement.