New Delhi: Russia and Iran Friday hit out at US and other Western powers for imposing sanctions and “acts of aggression”, and called upon Brics to work on strategies that make the group more resilient to deal with challenges and pressures, in what underlined the challenge India faces in seeking to stop the meeting from turning into an anti-West platform.“Iran has faced extensive sanctions over the past years. However, in recent months, these pressures have entered a far more dangerous phase as a result of the military act of aggression of US and the Israelis against Iran. This… in addition to material losses, once again revealed an important reality: economic security cannot be separated from national and regional security,” Iranian President Masoud Pezeshkian said at Brics Business Forum.“Whenever the trade energy infrastructure or the financial system of a country comes under political or military pressure, its effects extend beyond the country’s borders and can affect regional or even global stability,” he said.Russian President Vladimir Putin hit out at the “old leaders” resorting to “every conceivable means to reclaim their erstwhile dominance”.He said, “They go so far as to employ instruments of direct physical force, including the destruction of industrial and logistical infrastructure… Efforts are under way to block international transport corridors, to seize sea-going vessels, while illegal restrictions are imposed, accompanied by threats of so-called secondary sanctions, on those who refuse to act in the interests of others and instead seek to defend their own national interests.“The speeches offered a glimpse into the task awaiting India, which will be called upon to reconcile the hostility with its own policy of flexible multi-alignment. India is aware that the Trump administration will be keeping a close watch on the Brics deliberations because of Russia and Iran’s anger over sanctions and China’s interest in pushing for moves such as de-dollarisation and a cross-border payment system that can rival West-controlled SWIFT. US President Donald Trump has made no bones of his opposition to Brics.Putin sought investment platforms to fund projects in trade, infrastructure and technology. “We are ready to contribute to the world’s energy and food security with our partners, and to jointly shape reliable global routes, such as Trans-Arctic Transport Corridor and North-South International Corridor,” he said.Pezeshkian said, “Food and energy security are two fundamental pillars of economic security, and Iran, with its vast energy reserves and outstanding geographical position, is prepared to play the role of a strategic partner in Brics food, energy and transport supply chains.”
Share your thoughts in the comments
Be respectful · TOI community guidelines
He batted for expanding tr-ade in local currency, building a reinsurance pool with a $10 billion initial corpus, and fina-ncing infrastructure through New Development Bank. Putin, too, backed NDB and sought leveraging it to create a new investment platform.
