India-hosted BRICS Summit Steers Clear of Contentious Moves
The 18th BRICS summit hosted by India on September 12-13 criticized unilateral tariffs, sanctions, and protectionism in international trade, supported multilateralism and multipolarity, and expressed concern over West Asia tensions. The New Delhi Declaration avoided naming parties in the Middle East conflict and did not mention de-dollarization or a common currency, but backed intra-group commerce in local currencies. Leaders also discussed technology governance and reforms to give developing countries a bigger voice.
Why it matters: The summit's reaffirmation of multilateralism and its avoidance of de-dollarization show BRICS managing trade and currency tensions without confronting the dollar.