The 18th BRICS summit opened in New Delhi on Saturday with leaders from the expanded bloc of emerging economies focusing on trade, investment, and multilateral reforms amid ongoing tensions in the Middle East involving Iran.

Indian Prime Minister Narendra Modi hosted the gathering at Bharat Mandapam, welcoming Russian President Vladimir Putin, Chinese President Xi Jinping, Iranian President Masoud Pezeshkian, and representatives from other member nations including South Africa, Egypt, Ethiopia, Indonesia, the UAE, and others.

The summit occurs as the six-month-old conflict between the United States, Israel, and Iran has resumed with tit-for-tat strikes following a pause in August. Iran-aligned Houthi rebels have also tightened control in the Red Sea region, contributing to rising oil prices approaching $107 per barrel.

Negotiators reached agreement on a joint declaration prior to the leaders' session, according to multiple sources. The document condemns unilateral wars without naming specific countries, a formulation intended to bridge divisions between Iran and the UAE, which has faced Iranian missile strikes and suspended trade ties.

India has maintained relations with multiple sides in the conflict while strengthening defense and economic links with the United States and Western partners. Modi emphasized the need for dialogue and diplomacy to resolve conflicts during bilateral meetings.

The bloc, now comprising 11 members after recent expansions, seeks greater influence in global governance, including reforms to the International Monetary Fund and United Nations structures. Discussions also cover de-dollarization efforts, payment systems, food and energy security, and supply chain resilience.

Iranian President Pezeshkian met with Modi and other leaders on the sidelines, stressing Tehran's defiance and interest in BRICS institutions such as the New Development Bank. The group adopted the New Delhi Declaration, expressing concern over West Asia tensions and calling for restraint, protection of civilians, and adherence to international law.

The two-day event continues Sunday with outreach sessions involving partner countries. India holds the BRICS chairmanship under the theme of building resilience, innovation, cooperation, and sustainability.