11-Nation BRICS Summit Pushes National Currencies as New Delhi Hosts Sanctions Workaround Talks
Updated
Updated · Business Insider Africa · Sep 12
11-Nation BRICS Summit Pushes National Currencies as New Delhi Hosts Sanctions Workaround Talks
3 articles · Updated · Business Insider Africa · Sep 12
Summary
New Delhi opened the 18th BRICS Summit with leaders from 11 member states centering talks on expanding cross-border payments in national currencies rather than dollars.
India, holding the bloc's presidency for the fourth time, is steering discussions on trade platforms, supply-chain resilience and financial settlement systems as members seek to ease trade pressure and bypass sanctions.
Modi separately met Putin and Iranian President Masoud Pezeshkian, with India and Russia saying they would deepen their strategic partnership and stay engaged on security issues affecting maritime trade.
Xi Jinping's attendance — his first official India visit in nearly seven years — underscores a broader diplomatic thaw, even as wars in the Middle East and Eastern Europe test cohesion inside the expanded bloc.