Foreign ministers from the BRICS countries met in New Delhi on Thursday, with the ongoing Iran war and rising oil prices topping discussions.
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India’s Foreign Minister, Subrahmanyam Jaishankar, said the world is facing major challenges caused by conflicts, economic uncertainty, and energy insecurity.
The meeting included ministers from Iran and Russia, including Iran’s Foreign Minister Abbas Araghchi and Russia’s Sergei Lavrov.
Jaishankar said disruptions in Gulf shipping routes and the Strait of Hormuz have affected global oil and gas markets, putting pressure on countries that rely heavily on imported energy, including India.
India, one of the world’s biggest oil buyers, normally gets about half of its crude oil through the Strait of Hormuz, which has faced repeated disruptions since the conflict began.
The meeting also focused on trade, climate issues, food security and economic cooperation among BRICS members.
The BRICS group was formed in 2009 by Brazil, Russia, India, China and South Africa, but has since expanded to include countries such as Iran, Saudi Arabia, Egypt, Ethiopia, Indonesia and the United Arab Emirates.