Building blocks

• The summit was Russia’s biggest since the Ukraine war began in 2022.
• The summit agenda and Kazan Declaration emphasized strengthening economic bonds within the group, signaling that unilateral sanctions against members are unacceptable.
• Agreements included an interbank cooperation mechanism, a grain exchange, a cross-border payment system, and growth of the BRICS New Development Bank.
• The induction of members Iran, Egypt, Ethiopia, the UAE, and Saudi Arabia signified the counter-balancing arrangement of emerging economies.
• Prime Minister Narendra Modi defended BRICS as an inclusive organization, emphasizing dialogue and diplomacy over war.
• India supported the Declaration on Israel in Gaza and support for the state of Palestine.
• The summit also provided a platform for discussing thorny bilateral issues, including Iran-UAE and Egypt-Ethiopia.