Brics leaders act to hedge – not revolt – against US dollar dominance

Intelligence summary

The family photograph did the political work the summit’s final declaration could not. Chinese President Xi Jinping, Russian leader Vladimir Putin, Iranian President Masoud Pezeshkian and Indian Prime Minister Narendra Modi stood shoulder to shoulder as the Brics summit closed in New Delhi on Sunday – a single frame capturing an 11-nation bloc that now spans four continents and nearly half the world’s population. UN Secretary General Antonio Guterres attended the gathering of emerging economies.