India says safe, unimpeded maritime flows vital for global economic well-being

NEW DELHI: Foreign Minister Subrahmanyam Jaishankar said on Thursday that unimpeded maritime flows through international waters, including the Strait of Hormuz, are vital for global economic well-being.

Jaishankar was speaking at the start of a two-day meeting of BRICS foreign ministers in New Delhi.

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"The ‌conflict in ⁠West Asia ⁠merits particular attention," Jaishankar said, referring to the U.S.-Israeli war in Iran.

"Safe and ​unimpeded maritime flows through international waterways, including the Strait of Hormuz and the ​Red Sea, remain vital for global economic well-being."

The impact of the war in Iran, including the effective closure of the Strait of Hormuz, ​has been described as one of the biggest ⁠disruptions to ‌energy markets in history.

The disruption has choked tanker ​traffic and ​sent energy prices surging, stoking fears of spiralling inflation ⁠and a global economic downturn.

The BRICS grouping, founded by ​Brazil, Russia, India and China, expanded to include South ​Africa in 2011. Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates have joined more recently. India holds the BRICS chair for 2026.

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Foreign ministers from most member states are attending the meeting in New Delhi, including Iran’s Foreign Minister Abbas Araqchi and the UAE’s ‌Deputy Foreign Minister Khalifa Shaheen Al Marar.

The war has made it harder for the group to reach consensus on ​a joint statement, ​reflecting differences between ⁠Iran and the UAE, which are on opposing sides in the conflict launched on February 28.

Jaishankar also said BRICS must address the "increasing resort to unilateral ​coercive measures and sanctions inconsistent with international law and the U.N. Charter."

"Such measures disproportionately affect developing countries. These unjustifiable measures cannot substitute dialogue, nor can pressure replace diplomacy."

He said emerging economies expect BRICS to play a constructive and stabilising role.