International RelationsEconomy
News 10 of 26

BRICS Summit 2026: India Hosts Xi Jinping, Putin Amid Western Sanctions, TRIPS Waiver, CBAM Concerns

Target:UPSC GS-IIMPSCBankingSSC GATeachingPrelims HighMains HighStatic GK Link
11 Sept 2026
~2 min
Source: Indian Express
Key Data:BRICS summit: September 12-13, 20261,325 global sanctions since 1949; 486 by USOver 30 US sanctions programmesTRIPS waiver sought: October 2020TRIPS in effect: January 1995Chabahar Port: 2003; revived 2015-17; 10-year pact 2024
Bodies:BRICSWTOSWIFTAIIBUNCTADEUG7RBIUS State Department
Practice MCQs from today's news ▸
What This Article Covers

1.India is hosting the two-day BRICS summit on September 12-13, 2026, with Xi Jinping, Vladimir Putin and Iran's Masoud Pezeshkian among attendees.

2.The article highlights the weaponisation of the Western financial system through US sanctions, SWIFT removals, Chabahar hurdles, TRIPS waiver denial and EU's CBAM.

3.For exams, the core theme is Global South's demand for alternative financial architecture (BRICS, AIIB) and fair trade/IP rules.

The Big Picture
Prelims · HighMains · High

India hosts the 2026 BRICS summit (September 12-13) with Xi Jinping, Putin and Iran's President amid escalating Western sanctions against key members. The article explains why India may need BRICS as a risk mitigant against the weaponisation of the Western financial system, covering SWIFT bans, TRIPS waiver denial, Chabahar sanctions and CBAM trade barriers. For exams, this is a ready case study on Global South's push for alternative financial architecture.

Exam Lens

Quick Exam Facts From News

BRICS Summit DatesSeptember 12-13, 2026
Founding MembersBrazil, Russia, India, China, South Africa
TRIPS WaiverSought by India & South Africa in October 2020
TRIPS EffectiveJanuary 1995
Global Sanctions Since 19491,325 total; 486 by US
US Sanctions ProgrammesOver 30
Chabahar PortStarted 2003; revived 2015-17; 10-year pact 2024
UNCTAD on EU Carbon TaxCuts global emissions by 0.1%; impedes developing exports

1-Minute Revision

  • ›BRICS Summit Dates: September 12-13, 2026
  • ›Founding Members: Brazil, Russia, India, China, South Africa
  • ›Target this Data: BRICS summit dates — September 12-13, 2026
  • ›Target this Data: 1,325 global sanctions since 1949; 486 by the US; over 30 US sanctions programmes
  • ›Target this Data: TRIPS waiver sought by India & South Africa in October 2020; TRIPS in effect since January 1995
  • ›Target this Nodal Body: WTO — administers the TRIPS Agreement

Mastered this topic? Test your knowledge with a full MCQ quiz.

Practice exam-style questions, track your score, and strengthen your recall.

Q1Static LinkageEasy

Which intergovernmental organisation mentioned in the article is named after its founding members Brazil, Russia, India, China and South Africa?

Q2Statement-basedHard

Consider the following statements:

1. India and South Africa sought a TRIPS waiver for all WTO members in October 2020 in relation to the prevention, containment or treatment of Covid-19.

2. The TRIPS Agreement came into effect in January 1995 and is administered by the United Nations.

3. The demand for the TRIPS waiver was turned down by developed countries at the peak of the pandemic.

Which of the statements given above is/are correct?

Q3Data-centricMedium

According to Urjit Patel's working paper mentioned in the article, how many global sanctions have been imposed since 1949, and how many of these were imposed by the US?

Q4Application/ImpactMedium

What was the estimated impact of the European Union's carbon tax according to the UNCTAD study released in 2021?

All 25 MCQs ▸
You finished this topic
Explore Related Topics
Related Current Affairs
Intl. Relations Current Affairs

BRICS as a Reformist Non-Western Bloc: Key Data on NDB, Intra-BRICS Trade & De-dollarisation for India's Global South Strategy

BRICS has evolved from a loose grouping into a formidable Global South platform, challenging Western-dominated institutions. For India, it serves as a strategic bridge to both the West and developing economies, offering concrete mechanisms like the NDB (120 projects, $39 billion) and local currency trade to reduce dollar dependence. Key for Mains: analyse BRICS as reformist (not anti-Western) and its role in multipolar world order.

Intl. Relations Current Affairs

India Hosts 18th BRICS Summit in Delhi Amid Expanded Membership and US Tariff Threats

India is hosting the 18th BRICS Summit in Delhi, its second major multilateral hosting after G20 2023. The summit faces challenges from internal conflicts (Iran-UAE tensions) and external pressure from US tariffs over de-dollarization efforts. Success would boost India's diplomatic stature and signal BRICS resilience.

Intl. Relations Current Affairs

India Hosts 18th BRICS Summit in New Delhi: BRICS GDP (PPP) 36.8% Surpasses G7’s 29%

India is hosting the 18th BRICS Summit in New Delhi (Sep 12-13, 2026) as the bloc marks 20 years. BRICS now accounts for 36.8% of global GDP (PPP) versus G7’s 29%, and intra-BRICS trade hit $1.17 trillion in 2024. Key tensions include the bloc’s purpose (anti-West vs. economic forum), Iran-UAE conflict, and de-dollarisation via BRICS Pay. For UPSC/competitive exams, this is a high-relevance topic covering IR, economy, and India’s multi-alignment strategy.

Intl. Relations Current Affairs

Xi Jinping at 18th BRICS Summit in Delhi; India's $112 Bn Deficit with China and US Tariff Risks

Xi Jinping visits India after 7 years for the 18th BRICS Summit, as India navigates a widening $112 billion trade deficit with China and US scrutiny on tariff circumvention. India's BRICS chairship aims to build production capacity, balancing Chinese investment and American market access.

Intl. Relations Current Affairs

India Hosts 18th BRICS Summit Sept 12-13 2026; Group Now 45% of World Population, 37% of GDP (PPP)

India's 2026 BRICS presidency culminates in the 18th Summit in New Delhi (Sept 12-13). The expanded BRICS, accounting for 45% of world population and 37% of global GDP (PPP), faces internal cohesion challenges. Success will be judged by tangible outcomes like NDB lending, local currency trade, and technology cooperation, not just declarations.

Intl. Relations Current Affairs

Xi Jinping Visits India After 7 Years for BRICS Summit; Business Ties Still Strained by Suspicion

Xi Jinping's first India visit in seven years, around the annual BRICS summit, marks a diplomatic thaw after the 2020 border clashes. However, business ties remain constrained by visa delays, investment restrictions, and equipment hold-ups, reflecting a deep trust deficit. For exams, this is a data-rich case of geopolitical reconciliation and its economic limits.

Economy Current Affairs

BRICS Finance Chiefs Back Local Currency Settlements; 8.14% of India's Imports in Rupees in Q1 FY27

BRICS finance ministers and central bank chiefs have backed local currency trade settlements and cross-border payment interoperability, including linking fast payment systems and CBDCs. With 8.14% of India's imports settled in rupees in Q1 FY27, the push signals a gradual shift in global payment dynamics and is a high-yield topic for economy and international relations questions.

Intl. Relations Current Affairs

BRICS New Delhi Declaration 2026: India Pushes MSME Focus, WTO Reforms, and Local Currency Trade

At the 18th BRICS Summit in New Delhi, India leveraged its 2026 chairship to prioritize MSME development, launching the inaugural SME Forum and a report on MSME competitiveness. The declaration also reiterated concerns over unilateral trade measures, pushed for WTO/IMF/World Bank reforms, and supported Ethiopia and Iran's WTO accession. This is critical for understanding India's role in the Global South and multilateral trade dynamics.