US watches BRICS as members juggle ties with competing powers

Source: The National | Original Published At: 2026-09-10 03:00:00 UTC

Key Points

• BRICS leaders are scheduled to meet in New Delhi on September 12 and 13 amid global economic uncertainty and Middle East conflict disrupting energy markets and trade routes.
• The US has intensified efforts to isolate Iran through Operation Economic Outcast, warning trading partners of secondary sanctions for maintaining financial ties with Tehran.
• China remains Iran's largest oil customer, while Iranian crude loadings have fallen sharply and shipments through the Strait of Hormuz have been disrupted.
• India balances its strategic partnership with the US in the Indo-Pacific with commercial and strategic interests in Iran and continued dependence on Russian crude.
• Analysts expect the summit to push for greater intra-BRICS trade in national currencies, though India may be cautious about moves perceived by the US as de-dollarisation.
• BRICS has expanded to include the UAE, Saudi Arabia, Egypt, Iran, Indonesia and Ethiopia, with agenda items including local currencies, alternative payment systems and resilient supply chains.
• The US is monitoring the summit while seeking to improve relations with India and China and maintain pressure on Russia over its war in Ukraine.