The Economic Times

BRICS urges IMF, World Bank reforms, condemns unilateral tariffs, secondary sanctions

BRICS leaders adopted the New Delhi Declaration, expressing serious concerns over unilateral trade measures. They called for the elimination of unlawful measures and advocated for global financial architecture reform. Discussions explored efficient cross-border payment mechanisms and local currency trade settlements. The bloc also emphasized stronger energy security and agricultural collaboration among members. BRICS reaffirmed support for a rules-based multilateral trading system centered on the WTO.