Iran war and oil dominate BRICS meet in India
- Last updated: May 14, 2026 | 13:09
BRICS nations, including Iran and Russia, met in New Delhi on Thursday, where India warned of "considerable flux" in a world hit by conflict, economic uncertainty and energy insecurity.
War in Iran and the related fuel crisis are dominating discussions in the two-day gathering.
India was hosting the foreign ministers from the expanded bloc that now includes Iran, Saudi Arabia and the United Arab Emirates -- countries at odds over the conflict launched by the United States and Israel on February 28.
"We meet at a time of considerable flux in international relations," India's Foreign Minister Subrahmanyam Jaishankar said, in his opening speech, before closed meetings began.
Among the foreign ministers attending were Iran's Abbas Araghchi and Russia's Sergei Lavrov.
"Ongoing conflicts, economic uncertainties, and challenges in trade, technology, and climate are shaping the global landscape," Jaishankar added, saying many countries "continue to face challenges on energy, food, fertiliser and health security".
Disruptions around Gulf shipping routes and the Strait of Hormuz continue to drive volatility in oil and gas markets, increasing pressure on energy-importing economies, including India.
India's foreign ministry also condemned an attack on an Indian-flagged ship off Oman on Wednesday as "unacceptable" -- with all sailors rescued safely by Muscat.
"We deplore the fact that commercial shipping and civilian mariners continue to be targeted," the foreign ministry said, without giving further details of who launched the attack.
Araghchi, speaking in New Delhi, insisted that the Strait of Hormuz "is open for all" commercial vessels who "cooperate" with its navy.
"There is no such thing as a military solution to anything related to Iran," Araghchi said. "We Iranians never bow to any pressure or threat, but we reciprocate the language of respect."
'Volatile global environment'
The conflict involving Iran has added strain to India's economy, heavily reliant on Middle Eastern energy supplies and fertiliser imports, and has cast uncertainty over New Delhi's growth outlook.
India, the world's third-largest oil buyer, normally sources about half of its crude through the Strait of Hormuz, a vital waterway that has been repeatedly blocked since war began.
Ship tracking and import data show that India has partially plugged the gap by turning to old allies, expanding promising ties and reviving suppliers it had not tapped in years.
The biggest backstop has been Russian crude -- a fuel source New Delhi spent much of the past year trying to pivot away from under stiff US tariffs.
Jaishankar met with Lavrov on Wednesday evening.
"Our political cooperation is even more valuable in an uncertain and volatile global environment," Jaishankar said in remarks at the meeting, adding that discussions included "trade and investment, energy and connectivity".
BRICS was created in 2009 as a forum for major emerging economies seeking greater influence in institutions dominated by Western powers.
The grouping, originally comprising Brazil, Russia, India, China and South Africa, has since expanded, as members sought to boost the bloc's global political and economic influence.
It now includes Egypt, Ethiopia, Iran, Saudi Arabia, Indonesia and the United Arab Emirates.
China's Foreign Minister Wang Yi was not attending -- with US President Donald Trump in Beijing on Thursday.
India will hold a leaders' summit later this year, and the foreign ministers will also meet with Prime Minister Narendra Modi, the foreign ministry said.
With deep divisions among some members, including over the Middle East war and criticism of Western powers, it was not clear whether a joint statement would be released at the meeting's end.
Agence France-Presse