NEW DELHI: Foreign ministers from the expanded BRICS bloc gathered in India on Thursday amid growing global concern over the Iran war, rising oil prices and disruptions to international trade routes.
The two-day meeting in New Delhi brought together senior officials from member states including Iran, Russia, Saudi Arabia and the United Arab Emirates, as conflict in the Middle East continued to fuel economic uncertainty and energy market volatility.
Opening the talks, Indian Foreign Minister Subrahmanyam Jaishankar warned that the world was facing “considerable flux” due to conflicts, trade tensions and economic instability.
“Ongoing conflicts, economic uncertainties, and challenges in trade, technology, and climate are shaping the global landscape,” Jaishankar said.
The conflict involving Iran and repeated disruptions around the Strait of Hormuz have placed growing pressure on energy-importing economies, particularly India, which sources a major share of its crude oil through the vital Gulf shipping route.
Indian officials said energy security, food supplies, fertiliser access and global economic stability were among the key issues under discussion.
Iranian Foreign Minister Abbas Araghchi and Russian Foreign Minister Sergei Lavrov attended the gathering, while China’s Foreign Minister Wang Yi was absent due to Chinese President Xi Jinping hosting US President Donald Trump in Beijing.
India currently holds the BRICS chairmanship and is expected to host a leaders’ summit later this year.
