Putin likely to participate in BRICS summit in Delhi, says Russia’s Deputy Foreign Minister, Pg14

Key Highlights:

• Russian President Vladimir Putin is expected to attend the BRICS summit in New Delhi in September.
• Russia will honor all existing contracts on oil exports, despite a ban on gasoline exports starting April 1.
• India, as the current BRICS chair, is commended for its efforts to build consensus among member nations.
• The BRICS grouping includes 10 nations, including Iran and the United Arab Emirates.
• India's import of Russian oil reached a nine-month high in March 2026.

Detailed Insights:

• Deputy Foreign Minister Rudenko highlighted the challenges in achieving consensus within BRICS due to differing national policies and priorities.
• The Russia-Ukraine conflict has exacerbated divisions within BRICS, particularly between Iran and its Arab neighbors.
• Russia has pledged support to Sri Lanka to address its energy crisis resulting from conflicts in West Asia.
• The BRICS Foreign Ministers' Meeting is scheduled for May, preceding the main summit in September.
• Russia's decision to ban gasoline exports was influenced by price fluctuations, but existing oil contracts will be honored.

Key Concepts Involved:

• BRICS: An intergovernmental organization comprising Brazil, Russia, India, China, and South Africa, aiming to promote economic and political cooperation.

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• Consensus: A general agreement among members of a group, often required for decision-making in international organizations.
• Oil Exports: The sale and transportation of crude oil from one country to another, a key aspect of international trade and energy security.