News analysis
Beyond hugs and goodwill, leaders of Russia and Iran return home from BRICS empty-handed
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(From left) Egypt’s President Abdel Fattah El-Sisi, Russia’s President Vladimir Putin, India’s Prime Minister Narendra Modi, China’s President Xi Jinping and South Africa’s President Cyril Ramaphosa during the 18th BRICS Summit in New Delhi on Sept 12.
PHOTO: EPA
- BRICS aims to challenge Western dominance, but Russia and Iran left the summit without achieving key goals like alternative payment systems or increased trade partnerships.
- Putin failed to advance Russia's plan to bypass US financial networks or expand exports to India, while Russia's economic situation remains difficult amid sanctions.
- Iran gained little support from BRICS, with no strong stance on Middle East tensions, but saw a rare high-level meeting with the UAE Crown Prince during the summit.
AI generated
BRUSSELS – The BRICS grouping was designed as an alternative to a world dominated by a handful of powerful Western nations led by the United States.
Its member states account for a combined 40 per cent of the world’s total economic output compared with the G-7 Western-dominated 29 per cent. They are pledged to transform the old “pyramid of privilege” – as Indian Prime Minister Narendra Modi, the host of this year’s summit, put it – “into a platform of partnership”.