Iran war and oil to dominate BRICS meet in India

NEW DELHI: Foreign ministers from the BRICS group of nations, including Iran and Russia, meet in India on Thursday, with the Middle East conflict and related fuel crisis set to dominate discussions.

India, which holds the BRICS chair this year, is hosting the two-day gathering of foreign ministers of the expanded bloc, which now includes Iran and the United Arab Emirates — countries at odds over the conflict launched by the United States and Israel on February 28.

India’s foreign ministry said talks will focus on “global and regional issues of mutual interest”, spokesman Randhir Jaiswal told reporters.

Iranian Foreign Minister Seyed Abbas Araghchi arrived in New Delhi late Wednesday, Iran’s embassy in India said.

Russian Foreign Minister Sergey Lavrov is also attending. He met his Indian counterpart Subrahmanyam Jaishankar after arriving in New Delhi on Wednesday evening.

Jaishankar said in a statement that their discussions included “trade and investment, energy and connectivity” as well as “global and multilateral issues”.

“Our political cooperation is even more valuable in an uncertain and volatile global environment,” Jaishankar added.

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.

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, Indonesia and the United Arab Emirates, although it remains unclear whether representatives from all member states will attend.

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.

“We will let you know as things progress,” India’s foreign ministry spokesman Jaiswal added.