BRICS Summit Produces Declaration Despite Iran-UAE Rift

Cover image from aljazeera.com, which was analyzed for this article
BRICS leaders met amid global conflicts and US tensions, issuing statements on trade and energy. Discussions focused on multipolar world order and sanctions.
PoliticalOS
Saturday, September 12, 2026 — Business
The summit produced a consensus declaration that avoids naming parties to the Gulf conflict, showing the bloc can still issue joint texts despite sharp internal divisions. Whether this text leads to measurable changes in payment systems or institutional reform remains untested.
What outlets missed
No outlet supplied independent verification of casualty figures from recent Gulf strikes or detailed data on how much bilateral trade has already shifted to local currencies. Several reports repeated the February 28 start date for the US-Iran conflict without citing a primary source or noting prior Iranian actions referenced by US officials. Coverage also omitted any reference to IAEA assessments of Iranian enrichment levels that some governments have cited as context for prior measures.
Leaders from the 11-nation BRICS group gathered in New Delhi this weekend under pressure to demonstrate cohesion while wars in the Middle East and Ukraine continued to disrupt energy markets and shipping lanes. The bloc adopted a joint declaration that condemns unilateral aggression without naming any country, according to four sources cited by Reuters. Indian Prime Minister Narendra Modi, hosting the meeting, told participants that the group must convert its size into concrete influence on global institutions.
The declaration emerged after negotiators bridged differences between Iran and the United Arab Emirates, two members on opposing sides of the Gulf conflict. Foreign ministers had failed to issue a joint statement on the same issue during a May meeting in the same city. Xi Jinping arrived for his first visit to India in seven years, holding talks with Modi on border issues that remain unresolved after a 2020 clash. Vladimir Putin and Masoud Pezeshkian also attended, alongside representatives from Brazil, Egypt, Ethiopia, Indonesia and South Africa.
Discussions covered cross-border payments outside the dollar, energy cooperation and artificial intelligence. Modi separately urged freedom of navigation after attacks on vessels in the Strait of Hormuz stranded Indian seafarers. The group accounts for roughly half the world’s population and about 40 percent of global GDP, yet members hold sharply different views on sanctions, trade barriers and the role of Western-led financial bodies. The final text is expected to call for reform of the UN Security Council and other institutions without specifying enforcement steps.
More in Business & Economy

Business Activity Holds Up as Selling Prices Rise Fastest Since 2022
S&P Global PMI shows robust activity but selling prices rise at fastest pace since 2022 amid energy and supply chain costs. Halloween candy prices jump 7.7%.

Stock Futures Climb on Anthropic IPO Filing and AI Financing
Major indices rose on enthusiasm from Anthropic's IPO filing and broader AI infrastructure announcements including Meta's massive fundraising plans. Investors are betting heavily on continued AI growth despite valuation concerns.

Tariffs and AI Transition Fuel Growth and Job Worries
Trump's tariff rhetoric and AI-driven restructuring raised concerns about growth, inflation, and job impacts as markets reacted to geopolitical and tech shifts.

AI Companies Weigh Early IPOs as Risks Mount
Nasdaq fell sharply amid concerns over AI spending sustainability and data center costs; Nvidia, Meta, and others were hit as Meta and Tesla reported earnings.
The Compass
You just read five takes on one story.
What's your take? Find your political shape in a few minutes.
Take the test