EAM Jaishankar welcomes Russian FM Sergey Lavrov at BRICS Foreign Ministers' meeting

New Delhi hosted the BRICS Foreign Ministers' Meeting on May 14–15, 2026, as a key event under India's 2026 BRICS Chairmanship (assumed January 1, 2026). Ext...

What Happened

New Delhi hosted the BRICS Foreign Ministers' Meeting on May 14–15, 2026, as a key event under India's 2026 BRICS Chairmanship (assumed January 1, 2026).
External Affairs Minister S. Jaishankar welcomed delegates including Russian Foreign Minister Sergey Lavrov, Iranian Foreign Minister Abbas Araghchi, Indonesian FM Sugiono, South African FM Ronald Lamola, and representatives from other BRICS members and partner nations.
China was represented by its Ambassador to India rather than Foreign Minister Wang Yi, reflecting the diplomatic complexity of the ongoing India-China relationship.
This is the fourth time India has held the BRICS chairship — the previous occasions were 2012, 2016, and 2021.
Discussions covered global economic cooperation, multilateral governance reform, the West Asia conflict's impact on global trade, maritime security, and the challenges of unilateral sanctions to the international order.

Static Topic Bridges

BRICS: Formation, Expansion, and Institutional Evolution

BRICS originated as an investment thesis by Goldman Sachs economist Jim O'Neill in 2001 ('BRIC' — Brazil, Russia, India, China), identifying four major emerging economies with high growth potential. The group held its first leaders' summit in Yekaterinburg, Russia in 2009. South Africa joined in 2010, creating the BRICS acronym.

Founding members (2009 summit): Brazil, Russia, India, China.
South Africa joined in 2010, making the bloc BRICS.
In 2023 (15th Summit, Johannesburg), BRICS invited Egypt, Ethiopia, Iran, and UAE to join; they became full members on January 1, 2024.
Indonesia joined as the 10th full member in January 2025, becoming the first Southeast Asian state in BRICS.
In October 2024, 13 additional countries were designated 'partner countries': Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.
BRICS+ now accounts for approximately 37% of global GDP and over 3.5 billion people.
BRICS chairship rotates annually in alphabetical order among members; the 2025 chair was Brazil, 2026 is India, 2027 will be Russia.

Connection to this news: India's 2026 chairship marks its fourth time steering the bloc, allowing it to shape BRICS priorities including multilateral governance reform, Global South debt relief, alternatives to dollar-dominated finance, and opposition to unilateral sanctions.

India's BRICS Chairship Priorities for 2026

India's 2026 BRICS theme and priorities are structured around its vision of an inclusive, reformed multilateral order. As chair, India sets the agenda for all BRICS meetings — from foreign ministers to finance ministers to the leaders' summit.

India's previous chairships: 2012 (New Delhi Declaration), 2016 (Goa Declaration), 2021 (New Delhi Declaration — 'Intra-BRICS Cooperation for Continuity, Consolidation, and Consensus').
Key 2026 chair priorities (based on India's articulated agenda): reform of UN Security Council (India seeks a permanent seat), IMF quota reform to give greater weight to Global South, de-dollarisation discussions (reducing dependence on the US dollar in trade settlements), and maritime security.
BRICS has established several institutional bodies: the New Development Bank (NDB), headquartered in Shanghai (established 2015, initial capital $100 billion), and the Contingent Reserve Arrangement (CRA), a forex swap mechanism.
The New Development Bank has expanded membership beyond BRICS: Bangladesh, Egypt, UAE, Uruguay, and Ethiopia have joined.

Connection to this news: The Foreign Ministers' meeting in New Delhi is a mid-year coordination point, where ministers align positions ahead of the BRICS Leaders' Summit later in 2026. India's hosting of Lavrov reflects the delicate balance of maintaining Russia ties while hosting Western allies at the G20 and other forums.

India-Russia Relations: Strategic Partnership in a Polarised World

India and Russia have a 'Special and Privileged Strategic Partnership' — the highest diplomatic designation in their bilateral framework. The relationship predates independence (via Soviet support for India's industrialisation) and was formalised in the 1971 India-Soviet Treaty of Peace, Friendship and Cooperation.

India is Russia's largest recipient of crude oil since Western sanctions post-Ukraine (2022): Russian crude now accounts for approximately 35–40% of India's oil imports, purchased at a significant discount to Brent.
India abstained on all key UN General Assembly resolutions condemning Russia's actions in Ukraine, reflecting strategic autonomy.
India-Russia defence ties: approximately 60% of India's existing military equipment is of Russian or Soviet origin; legacy maintenance and spare parts create strategic dependence.
The India-Russia Annual Summit is a key institutional mechanism; the two foreign ministers' meeting on the sidelines of multilateral forums like BRICS is a regular feature.
Jaishankar's welcoming of Lavrov at BRICS signals India's intent to maintain diplomatic space with Russia even as it deepens partnerships with the West.

Connection to this news: Lavrov's attendance at the BRICS meeting hosted by India, and India's decision to welcome him, reflects India's consistent foreign policy of engaging all major powers — a position increasingly tested by Western pressure to isolate Russia.

Global South and Multilateral Reform: The BRICS Agenda

The 'Global South' refers loosely to developing nations in Asia, Africa, and Latin America that were historically colonised, remain economically less developed, and seek reform of international institutions that they argue reflect the interests of post-World War II Western powers. BRICS has positioned itself as the institutional voice of the Global South.

The IMF's quota formula determines each member's voting share; the US holds approximately 17.4% of voting rights (enough to exercise a de facto veto over major decisions requiring 85% majority), while the entire Global South is proportionally underweighted.
UN Security Council reform: India, Brazil, Germany, and Japan ('G4') seek permanent membership; the 'Uniting for Consensus' group (including Pakistan and Italy) opposes expansion of permanent seats.
The New Development Bank (NDB) is the primary BRICS institutional rival to the World Bank/IMF, focusing on infrastructure financing in emerging economies without the conditionalities attached to IMF programmes.
BRICS has consistently called for de-dollarisation — settling trade in local currencies — to reduce exposure to US financial sanctions. India has made partial progress with Russia (rupee-rouble trade) and some Gulf states.
The Iran-West Asia conflict is a live stress test for BRICS unity: Iran is a BRICS member but faces Western sanctions; BRICS members diverge on how explicitly to oppose those sanctions.

Connection to this news: The BRICS Foreign Ministers' meeting in New Delhi is a direct manifestation of Global South multilateral diplomacy — with India as chair attempting to forge consensus among members with divergent interests (Russia and China on one side, UAE and members with strong Western ties on the other).

Key Facts & Data

India's BRICS Chairship year: 2026 (assumed January 1, 2026); previous chairships: 2012, 2016, 2021.
BRICS full members (10 as of 2025): Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE, Indonesia.
Indonesia joined BRICS in January 2025 as the first Southeast Asian full member.
13 'partner countries' invited in October 2024 including Turkey, Malaysia, and Vietnam.
BRICS+ share of global GDP: approximately 37%; combined population: over 3.5 billion.
New Development Bank (NDB): established 2015, headquartered in Shanghai, initial capital $100 billion.
Contingent Reserve Arrangement (CRA): $100 billion forex swap facility among BRICS members.
Indian FM S. Jaishankar hosted Russian FM Sergey Lavrov and Iranian FM Abbas Araghchi at New Delhi BRICS meet.
China represented by Ambassador Xu Feihong (not FM Wang Yi) at the New Delhi meeting.
Russian crude now accounts for approximately 35–40% of India's oil imports (up from negligible share pre-2022).
US voting share in IMF: approximately 17.4% (gives effective veto over decisions requiring 85% majority).