BRICS Foreign Ministers Meet Amid Iran War
Analysis based on 67 articles · First reported May 12, 2026 · Last updated May 15, 2026
The ongoing conflict involving Iran and the resulting disruptions in the Strait of Hormuz are causing significant volatility in global oil and gas markets, increasing pressure on energy-importing economies like India. The BRICS meeting aims to address these economic uncertainties and foster cooperation, but internal divisions within the bloc may hinder a unified response, potentially prolonging market instability. India's increased purchases of Russian crude oil demonstrate a shift in energy sourcing due to these geopolitical pressures.
Foreign ministers from the expanded BRICS group, including Iran and Russia, are meeting in New Delhi, India, to discuss global and regional issues, with a primary focus on the Middle East conflict involving Iran, the United States, and Israel. The conflict has led to significant disruptions in Gulf shipping routes and the Strait of Hormuz, causing volatility in oil and gas markets and impacting energy-importing economies like India. India, as the current BRICS chair, is hosting the two-day gathering, with its External Affairs Minister S. Jaishankar engaging in bilateral talks with his Iranian counterpart Abbas Araghchi and Russian counterpart Sergey Lavrov. Iran is urging BRICS nations to condemn the actions of the United States and Israel. The bloc, which has recently expanded to include Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia, and the United Arab Emirates, faces internal divisions over the conflict, making it challenging to issue a joint statement. China's Foreign Minister Wang Yi is absent due to US President Donald Trump's visit to Beijing. The discussions also cover trade, investment, energy security, and the reform of global governance.
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