The 2026 BRICS Summit in India has witnessed a set of complicated geopolitical developments following explicit criticism from Moscow and Tehran of Washington and the West, which has questioned their leadership in regional and international affairs.

Statements made by the leaders of Russia and Iran at the BRICS Business Forum have challenged New Delhi to keep its careful balancing act between being a responsible strategic actor and promoting the interests of the enhanced BRICS grouping, which includes a number of countries with distinctly anti-Western sentiments.

Russia and Iran Call for Economic Security and Geopolitical Strategy

At the BRICS Business Forum, Iran’s president-elect Masoud Pezeshkian noted that economic security is inextricably linked with national and regional security, arguing that tightening sanctions and military presence by Washington risk having “downstream effects” in the region.

He also stated that Iran can contribute to deepening BRICS economic ties, including through energy, food security, and transport infrastructure, given its geographic location and resource base.

In his remarks, Russian President Vladimir Putin also spoke of the desire of “traditional superpowers” to preserve their status, noting that measures such as sanctions, restrictions on transportation infrastructure, and attempts to undermine the economic sovereignty of other countries had been taken.

Putin highlighted the need for economic cooperation, including trade, infrastructure, technology, and investment, and reiterated the importance of reliable transport, energy, and food security.

India’s Delicate Balancing Act

• India finds itself in a delicate position as the host of the 2026 BRICS Summit, which seeks to pursue its foreign policy course of multi-alignment while also promoting broader economic and strategic partnerships with Russia, as well as deepening its ties with the US, Europe, and other traditional allies.
• India’s efforts to facilitate BRICS economic cooperation should be seen as an attempt to ensure that this grouping achieves its goals while also pursuing its own geopolitical interests.
• The US has watched the developments in New Delhi with great interest, as the BRICS countries’ desire to expand trade and investment, adopt more national currencies in trade, and establish alternative payment systems could undermine the dominance of the US dollar.

De-Dollarization and Alternative Payment Systems Under Scrutiny

One of the controversial topics of the BRICS Summit is the question of de-dollarization and the use of alternative payment methods in trade between member states.

While the concept of reducing the share of the US dollar in intragroup transactions and adopting national currencies has gained wide support among BRICS countries, its implementation may be complicated by contradictions in the foreign policies of individual members, particularly India.

The expansion of the use of national currencies and the reduction of exposure to the US dollar will require broad agreement within the BRICS grouping, which will be complicated by varying levels of economic and geopolitical engagement with Washington and its allies.

Russia’s Appeal to Invest in Trade, Infrastructure, and Technology

In addition to holding talks on trade, investment, and technology, Russia has also focused on promoting infrastructure projects within the framework of the BRICS, including roads, railways, airports, and other transport hubs linking the BRICS countries.

Vladimir Putin has also called for the repurposing of existing financial, investment, and industrial BRICS instruments to meet the needs of member states. This includes several key transport corridors that could serve as the backbone of a new Eurasian trade route.

Such projects will help to overcome some of the trade and economic disruptions caused by geopolitical tensions and sanctions.

Iran’s Geopolitical and Economic Aspirations Within BRICS

Meanwhile, Iran has also demonstrated its interest in participating in the economic development of the BRICS countries, emphasizing its role as a transit state through which trade between BRICS countries can pass.

Tehran’s strategic location gives it a significant advantage in becoming a major supplier of natural resources to other BRICS countries, including energy, food, and transport infrastructure.

Masoud Pezeshkian also spoke of food and energy security as a priority area for economic security, noting that Iran is ready to deepen its strategic partnership with other BRICS countries.

India’s Geopolitical Crossroads

India has managed to navigate a complex geopolitical landscape in which it occupies the role of a mediator between countries adopting diametrically opposed policies.

This has been complicated by the growing tensions between the US, Russia, Iran, China, and other countries represented at the Summit.

India’s ability to balance the economic and strategic interests of these countries while promoting the principles of the multi-polar world will shape the future of economic and political ties within the BRICS grouping.

India’s efforts to host the 2026 BRICS Summit can be seen as an opportunity to advance its geopolitical goals by encouraging greater economic cooperation between major emerging markets and developing countries.

BRICS Summit 2026: Looking Ahead

• The 2026 BRICS Summit highlights the growing complexity of economic and geopolitical interactions within this grouping.
• In essence, the Summit demonstrates that BRICS is gradually transforming from an essentially economic alliance into a forum for discussing a wide range of issues, including financial, trade, energy, technological, and geopolitical challenges.
• While increased institutionalization of BRICS will enable it to play an even more significant role on the global stage, the differences between member states in their strategic visions and regional priorities will fuel internal contradictions.
• India’s role in promoting economic cooperation between BRICS countries, including through infrastructure development, will be of particular importance in this regard.
• Thus, the outcomes of the 2026 BRICS Summit will provide an important signal regarding the future of economic and geopolitical interactions within this grouping.