Futures
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Iranian President Pezeshkian has twice appealed to Indian Prime Minister Modi, urging BRICS under India's rotating presidency to play an independent and active role in the Iran-US-Israel conflict and help stop hostilities. He proposed establishing a regional security framework and expressed openness to nuclear negotiations. Modi condemned attacks on regional infrastructure and emphasized ensuring safe passage through waterways, but he did not name the US or Israel, nor did he support Iran's position. As Brent crude oil prices reached $112.19 per barrel and tensions mount in the Strait of Hormuz, which is vital for global transportation of 20% of oil and liquefied natural gas, BRICS faces increasing pressure and credibility tests.