As oil prices break $100, the BRICS summit focuses on Iran, yet internal divisions among members deepen.

BlockBeats news, September 12 — The BRICS leaders' summit was held in New Delhi, India. As the Iran war continues to disrupt the Strait of Hormuz and the Red Sea, and international oil prices break through $100, Iran has become one of the core topics of this summit. Member states such as China, Russia, and India possess direct communication channels with Iran — a diplomatic advantage the United States currently lacks.

Iranian President Pezeshkian called on member states before the summit to establish alternative financial instruments to reduce dependence on the Western financial system, and criticized the U.S.-led global order. Russian President Putin advocated pushing BRICS to build a platform more independent of Western rules, with a focus on strengthening cooperation in payments, investment, technology, and infrastructure.

But it will not be easy for BRICS to become a mediating force in the Middle East crisis. Iran and fellow BRICS member the UAE are already on opposing sides of the conflict, and the UAE had previously suspended trade and financial exchanges with Iran; India, meanwhile, needs to maintain relations with the United States, Gulf states, Russia, and Iran simultaneously. Divisions among member states had previously prevented foreign ministers from issuing a joint statement.

What the market is more focused on now is whether BRICS can form a minimum consensus around energy security, cross-border payments, and the Middle East situation. As transportation through the Strait of Hormuz continues to be disrupted, whether the summit can ultimately release a unified stance will also become an important window for observing the direction of global energy and geopolitics.