BRICS Foreign Ministers Gather in New Delhi Amid Rising Geopolitical Tensions
On June 10‑11, 2024, the foreign ministers of the BRICS bloc convened in New Delhi for a two‑day meeting hosted by India’s Ministry of External Affairs. The gathering brought together diplomats from the founding members—Brazil, Russia, India, China, and South Africa—as well as the five countries that joined the bloc in 2024: Egypt, Ethiopia, Iran, the United Arab Emirates, and Saudi Arabia.
The summit took place against a backdrop of heightened global uncertainty. The ongoing conflict in Ukraine continued to disrupt energy markets, pushing benchmark Brent crude prices above $90 per barrel in mid‑2024, according to the U.S. Energy Information Administration.1 At the same time, divergent views on the war, rising food and fuel costs, and broader economic slowdowns have tested the cohesion of the expanded BRICS grouping.
Araghchi‑Lavrov Bilateral on the Sidelines
During the meeting, Iranian Foreign Minister Abbas Araghchi held a bilateral discussion with his Russian counterpart, Sergei Lavrov. The two officials exchanged views on regional security, energy cooperation, and mechanisms to mitigate the impact of Western sanctions on trade.
According to a read‑out released by Iran’s Ministry of Foreign Affairs, Araghchi emphasized Tehran’s interest in deepening joint projects in the energy sector, particularly in gas pipelines and renewable‑energy initiatives.2 Lavrov reiterated Russia’s commitment to expanding trade with Iran through the use of national currencies and the BRICS‑led payment system, which aims to reduce reliance on the U.S. dollar.
Jaishankar Sets the Agenda for Collective Action
Indian Foreign Minister Subrahmanyam Jaishankar opened the plenary session by outlining the meeting’s priorities. He noted that discussions would focus on:
- Addressing the ripple effects of the Ukraine conflict on global energy and food supplies;
- Exploring avenues for sustainable development financing within the BRICS framework;
- Strengthening coordination on climate‑resilient infrastructure;
- Enhancing people‑to‑people exchanges and cultural cooperation.
Jaishankar stressed that, despite differing national perspectives, the bloc retains a shared interest in promoting a multipolar order that respects sovereignty and fosters inclusive growth.3
Broader Context: BRICS Expansion and Global Challenges
The 2024 expansion added nearly 400 million people to the BRICS population, increasing the bloc’s share of global GDP to roughly 30 percent.4 Analysts argue that the enlarged membership brings both opportunities—such as diversified trade partners and access to new markets—and challenges, notably reconciling varied stances on security issues like the Ukraine war.
Energy markets remained a focal point. The International Energy Agency reported that geopolitical tensions contributed to a ≈ 12 percent year‑on‑year rise in global oil prices during the first half of 2024, prompting BRICS members to discuss coordinated responses to price volatility.5
Looking Ahead
The New Delhi meeting concluded with a joint statement reaffirming the commitment of BRICS nations to dialogue, mutual respect, and cooperative problem‑solving. While no binding agreements were signed, officials signaled that follow‑up working groups would be established to monitor energy security, trade facilitation, and climate initiatives.
For observers, the gathering underscored the bloc’s evolving role as a platform for emerging economies to navigate a complex international landscape—one where regional disputes, energy fluctuations, and shifting alliances continue to shape the global agenda.
1 U.S. Energy Information Administration, “Short‑Term Energy Outlook,” June 2024.
2 Ministry of Foreign Affairs of the Islamic Republic of Iran, Press Release, 10 June 2024.
3 Ministry of External Affairs, Government of India, Transcript of Foreign Minister Jaishankar’s remarks, New Delhi, 10 June 2024.
4 World Bank, “BRICS Economic Overview,” July 2024.
5 International Energy Agency, “Oil Market Report – June 2024.”
