Latest news with #2025BRICSSummit
Express Tribune
5 days ago
- Business
- Express Tribune
BRICS 2025 and the Indian dilemma
The writer is a PhD scholar of Semiotics and Philosophy of Communication at Charles University Prague. She can be reached at shaziaanwer@ Listen to article The 2025 BRICS Summit in Rio de Janeiro concluded without the presence of the presidents of China, Russia and Iran. Russia and Iran were represented by their foreign ministers, and China by their premier. The theme of this year's summit emphasised multilateralism and the upholding of international law, based on the Purposes and Principles enshrined in the UN Charter. It reaffirmed the central role of the UN in maintaining international peace and security, promoting human rights and fundamental freedoms and encouraging cooperation grounded in solidarity, mutual respect, justice and equality. BRICS is increasingly positioning itself as an alliance of the historically oppressed. The list of members and partners continues to expand each year. In 2025, Colombia and Bolivia expressed interest in joining. Colombia pivoting away from longstanding American influence toward a more sovereign foreign policy in the past three years is particularly noteworthy. Current full members include Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, the UAE, Ethiopia, Indonesia and Iran. Partner countries include Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda and Uzbekistan. Over 30 countries expressed interest in joining BRICS in 2024, either as full members or partners. A relatively low-profile summit was expected this year, especially when compared with the 2024 Kazan Summit, partly because Brazil is also hosting COP30 and its attention appears divided. Nevertheless, BRICS 2025 generated more media attention than expected. Notably, US President Donald Trump has become increasingly vocal, recently threatening a 10% tariff on any country that joins BRICS or attempts to bypass the US dollar. Bilateral trade in sovereign currencies, along with growing mistrust of US economic policies, especially Trump's proposed 100% tariffs, have already begun shaking global markets. According to the US Dollar Index, the dollar fell approximately 8.8% from June 2024. In 2023, several UN investment banks raised concerns that the dollar could be dethroned as the world's primary reserve currency, citing possible replacements such as the Chinese yuan, Japanese yen or a potential BRICS-issued shared currency. The summit also addressed major geopolitical flashpoints. It strongly condemned US and Israeli bombardments on Iran in June and reaffirmed commitment to the two-state solution in Palestine. India's participation in endorsing such resolutions highlights a strategic tightrope: while aligning with BRICS' broader anti-imperialist stance, India's longstanding ties with Israel and its own illegal occupation of Kashmir may draw future scrutiny within BRICS circles if consistency in international law is demanded. The 2024 Kazan Summit had set a high benchmark, marked by Russia's comprehensive efforts to institutionalise BRICS mechanisms. Initiatives included the BRICS Finance Track and Central Bank Working Group, Payments Cooperation Council, BRICS Rapid Information Security Channel, Anti-Corruption Working Group and the BRICS Space Council. Additionally, a BRICS Healthcare and Nuclear Medicine Working Group was launched. Brazil followed suit this year by initiating five new working groups on employment, SMEs, counterterrorism, disaster management and anti-monopoly/competition policy. In this light, BRICS 2025 can be viewed as a step toward deeper cooperation among the Global South, aimed at inclusive and sustainable global governance. While the 2024 Kazan Summit was more focused on reinforcing multilateralism for equitable global development and security, the Rio Summit leaned more towards amplifying the Global South's voice in the evolving world order. Looking ahead to the 2026 BRICS Summit, which India will host, questions loom large. As a swing state straddling the Global North and South, India faces growing skepticism from within the alliance. Experts remain uncertain about India's long-term commitment to BRICS' transformative agenda. The 2026 summit will thus serve as a test case — whether India is genuinely aligned with BRICS' vision of multilateralism, inclusive governance and South-South cooperation, or it prefers to maintain strategic ambiguity.
IOL News
7 days ago
- Business
- IOL News
BRICS+ Series: BRICS Summit in Rio Sparks Political Shockwave
Heads of state and government of member, partner, and external engagement countries pose for a family photo during the BRICS summit in Rio de Janeiro, Brazil, on July 7, 2025. The 2025 BRICS Summit in Rio De Janeiro, Brazil, took place amidst a myriad of geopolitical conflicts. As it stands: the Russia-Ukraine conflict has received renewed momentum; the crisis in the Middle East has been exacerbated involving both Iran and the US–culminating in the US striking Iran; the conflict between India and Pakistan remain tense; multiple African conflicts in the Democratic Republic of Congo (DRC), Sudan, and Sahel. BRICS 2025 Summit Agenda and Key Themes The BRICS 2025 summit features a broad and ambitious agenda, addressing several urgent global priorities. Discussions are set to cover public health cooperation, economic and financial integration, climate policy, artificial intelligence governance, multilateral security reforms, and institutional strengthening. On the issue of global health, leaders aim to promote fair and universal access to essential medicines and investment, and financial cooperation will be a major focus, with renewed dialogue on advancing a shared BRICS currency and reducing dependency on the US dollar in cross-border transactions. Climate change remains high on the agenda, with member states expected to launch a joint "BRICS Climate Leadership Strategy" to drive coordinated environmental action. Efforts to establish inclusive global frameworks for governing artificial intelligence will also take centre stage, as the bloc pushes for ethical and balanced oversight in emerging technologies. The summit will explore ways to reform the international peace and security system, advocating for more equitable global governance structures. Finally, institutional development will focus on enhancing internal coordination mechanisms within the newly expanded BRICS grouping. The New Development Bank In the lead-up to the 17th BRICS Summit, Colombia and Uzbekistan have formally become members of the New Development Bank (NDB), bringing the total number of participating countries to eleven. Established in 2015 by the founding BRICS nations, the NDB was created to finance infrastructure and sustainable development initiatives across emerging markets. Speaking at a press conference after the bank's 10th Board of Directors meeting, NDB President Dilma Rousseff reiterated the institution's commitment to supporting the Global South. She highlighted the importance of investment in innovation, science, and technology to help member states transition effectively into the Fourth Industrial Revolution. Current members of the NDB include India, Brazil, Russia, China, South Africa, Bangladesh, the United Arab Emirates, Egypt, and Algeria. With its headquarters in Shanghai, the bank has so far approved over 120 projects spanning key sectors such as renewable energy, transportation, environmental conservation, water and sanitation, and digital infrastructure. Summit Overview: BRICS 2025 in Rio The 2025 BRICS summit marks a significant milestone for the coalition, underscoring the impact of its growing membership and increasing influence in world affairs. Under Brazil's presidency, the summit will reaffirm the bloc's commitment to deeper South-South cooperation and structural reforms in global governance institutions. Its wide-ranging agenda illustrates the diverse priorities and shared challenges confronting the Global South. Key Summit Developments Among the standout developments at the Rio summit were unified concerns over rising global tariffs, viewed as threats to fair trade—implicitly referencing recent US policies. BRICS leaders also condemned the targeting of Iranian infrastructure, reflecting shared unease over escalating regional tensions. The summit's focus areas—ranging from public health and financial sovereignty to climate action and AI regulation—highlight the bloc's broader ambition to shape international discourse. Beyond formal sessions, the event also served as an umbrella for cultural and economic engagements, such as the BRICS Games in Brazil and youth entrepreneurship forums in India, strengthening collaboration across various sectors. *Dr Iqbal Survé Past chairman of the BRICS Business Council and co-chairman of the BRICS Media Forum and the BRNN *Cole Jackson Lead Associate at BRICS+ Consulting Group Chinese & South American Specialist ** MORE ARTICLES ON OUR WEBSITE ** Follow @brics_daily on X/Twitter & @brics_daily on Instagram for daily BRICS+ updates
News18
07-07-2025
- Politics
- News18
At BRICS, Jaishankar And Russia's Lavrov Meet For First Time After Operation Sindoor
Last Updated: The two ministers discussed a range of topics during the brief meeting, including bilateral cooperation, the West Asia situation and the SCO, among other key issues. External Affairs Minister S Jaishankar on Sunday met his Russian counterpart Sergey Lavrov on the sidelines of the 2025 BRICS Summit, in their first meeting since Operation Sindoor. The two ministers discussed a range of topics during the brief meeting, including bilateral cooperation, the West Asia situation and the SCO, among other key issues. 'Good to meet with FM Sergey Lavrov of Russia on the sidelines of #BRICS2025. Discussed bilateral cooperation, West Asia, BRICS and SCO", the EAM said in a post on X. Russia's Ministry of Foreign Affairs said on X, 'Russia's Foreign Minister Sergey Lavrov and Minister of External Affairs of India @DrSJaishankar hold a meeting on the sidelines of the XVII #BRICS Summit. Rio de Janeiro, July 6." Notably, Lavrov was expected to visit India in June, but the trip — aimed at laying the groundwork for President Vladimir Putin's visit later this year — was cancelled due to scheduling conflicts, according to people familiar with the matter. The meeting came as BRICS leaders strongly condemned the April 22 terrorist attack in Jammu and Kashmir's Pahalgam that claimed 26 lives. In its aftermath, India launched Operation Sindoor, targeting terror camps in Pakistan and Pakistan-occupied Kashmir. Russia not only denounced the attack but also expressed firm support for India's efforts to combat terrorism in all its forms. Moscow's position was reiterated in May when an all-party delegation, led by DMK MP Kanimozhi Karunanidhi, met senior members of the Russian Federation Council, including Andrey Denisov, First Deputy Chair of the Committee on International Affairs, to reinforce the shared effort of fighting terrorism. First Published: July 07, 2025, 06:56 IST
