- Escalating Middle East tensions between Israel, Iran, and the US have triggered a global market rout, hitting Asian stocks particularly hard.
- Founding BRICS nations Brazil, Russia, China, and South Africa have issued statements condemning the US-Israel strikes on Iran and calling for restraint.
- India, the chair of the 2026 BRICS summit, has maintained a distinct diplomatic position, condemning prior Iranian actions and engaging directly with Israel and the UAE.
Heightened geopolitical tensions stemming from the Israel-Iran-US conflict have sent global financial markets into a sharp decline, with Asian indices like Hong Kong’s Hang Seng and India’s Sensex hitting yearly lows. The turmoil coincides with a pivotal diplomatic moment as India prepares to chair the 2026 BRICS summit in New Delhi, placing its neutral stance under intense scrutiny.
Consequently, other BRICS members have firmly taken Iran’s side. Brazil’s government stated the attacks occurred amid peace negotiations, which it sees as the only viable path forward. Russia labeled the airstrikes “a deliberate, premeditated, and unprovoked act of armed aggression.”
Meanwhile, China called the strikes a grave violation of sovereignty and international law. Similarly, South Africa’s presidency published an official statement urging all parties to act within the UN Charter’s framework.
However, India has adopted a notably different approach without issuing a direct statement on the recent conflict. The Indian government had previously condemned Iran’s airstrike on the UAE in March, and Prime Minister Narendra Modi engaged directly with Israeli leadership. His diplomatic itinerary included a visit to the UAE just before the latest strikes.
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