Iranian President Masoud Pezeshkian landed in New Delhi on Friday ahead of this weekend's BRICS leaders' gathering and met privately with Prime Minister Narendra Modi later the same day. India's Ministry of External Affairs said the talks focused on the US‑Iran war. Modi restated India's view that disputes be resolved through dialogue and stressed protecting stability in the region, unhindered shipping and trade, and seafarer safety.
Tehran, burdened by sweeping US sanctions and over six months of American strikes, wants BRICS to act as a counterbalance to the US‑led order. But strains with other members are getting in the way, most notably with the United Arab Emirates. The UAE joined BRICS alongside Iran in 2024 and during the war it has repeatedly come under Iranian missile and drone fire that damaged energy infrastructure and airports. In August, the UAE cut economic ties with Iran, despite their long trading relationship.
Those tensions flared at a BRICS foreign ministers meeting in May, where Iran clashed with the UAE and pushed for a condemnation of the joint US‑Israeli attack. The dispute helped stall the talks and ministers failed to produce a joint statement.
Going into this weekend's leaders' session, negotiators were still working on wording about the Middle East war. People familiar with the talks said the gaps have narrowed after constructive discussions, and that broader negotiations on health, education, culture and technology have also moved forward. A request for comment from India's Ministry of External Affairs did not receive an immediate reply.
Clashes around the region have grown more intense in recent weeks. In recent days, the US has increased attacks on Iranian oil tankers, responding to Iranian missile strikes on US Navy ships. In Yemen, clashes between Iran‑backed Houthis and Saudi‑backed forces have also increased. The widening conflict has pushed benchmark oil toward $107 a barrel.
At the summit, Iran seeks to blunt rising US pressure by boosting non‑dollar commerce and deepening diplomatic ties. Washington has imposed a blockade on Iran's Persian Gulf ports that has sharply reduced oil exports, while urging other nations to cut whatever trade with Tehran remains. The pressure has produced shortages of goods such as gasoline, pushed inflation above 80%, and sent the currency to repeated record lows.
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"Our goal in BRICS is to combat American unilateralism," Pezeshkian said on state TV before leaving Tehran. "Investments in the New BRICS Development Bank will be made jointly, without reliance on the US dollar"
This marks the first trip to India by an Iranian president in more than eight years, a relationship New Delhi has generally kept cordial. In August, speaking on the sidelines of the SCO summit in Kyrgyzstan, Modi said New Delhi and Tehran aim to broaden their trade relationship, although that push could run into India's effort to repair ties with Washington after upward of 12 months of tariff‑related strain.
Inside BRICS, Iran can count on its closest backers in the group: China and Russia. China, by far the largest BRICS economy, has become an economic lifeline by purchasing large volumes of Iranian oil, while Russia remains an important security partner.
If BRICS edges toward more non‑dollar trade and joint financing through its development bank, watch that alongside conflict‑driven oil moves and India's balancing act with Washington. It is a backdrop to consider if you are budgeting for pricier fuel and a choppier global economy.
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