Trump's America-first world is pushing other powers to hedge their bets
Xi, Putin and Modi meet in New Delhi as U.S. tariffs, sanctions and the Iran war test whether BRICS members can find more common ground.
TL;DR
- BRICS leaders, including Xi Jinping and Vladimir Putin, are meeting in New Delhi amidst a complex geopolitical backdrop.
- The summit will examine whether U.S. economic pressures, such as tariffs and sanctions, are encouraging cooperation among BRICS members on trade, energy, and payments.
- While U.S. policies are an added factor, India-Russia relations are long-standing, and the India-China thaw predates recent U.S. trade tensions.
- India seeks strategic autonomy, maintaining relationships with Russia and Iran while deepening ties with the U.S. and managing rivalry with China.
- Russia views deeper economic ties with China and India as a buffer against Western sanctions, particularly over the war in Ukraine.
- BRICS has expanded, increasing its economic and geopolitical weight but also making consensus more challenging due to differing national interests and security concerns.
- Members are exploring alternatives to dollar-dominated trade, discussing local currency use and payment mechanisms, though they differ on the extent of de-dollarization.