BRICS meet: India-China ‘Global South anchors’, ‘partners, not rivals’, says Doval

India’s National Security Advisor (NSA) Ajit Doval met Chinese Foreign Minister Wang Yi on the sidelines of the 16th BRICS NSA meeting in New Delhi. Doval said, “India and China are partners, not rivals,” and added, “a stable India-China relationship serves the common interests of both sides.”  Wang suggested that both sides should “respect each other’s core interests, properly handle sensitive issues, place the China-India boundary issue in its appropriate position, and prevent it from affecting the overall situation of bilateral relations.”

Delhi spoke of “stable, predictable and constructive bilateral relations” and “gradual normalisation” since Galwan, while Wang declared that “the Global South, including China and India, is collectively rising”, and that the two countries must “accelerate the modernisation process of the Global South” together, Indian Express and other media outlets reported. 

Express analysis said it is time to resume the India-China strategic economic ties and more nuanced approach to trade with China, as India is facing difficulties in concluding a trade agreement with the US. The BRICS alliance failed to issue a joint statement after their two-day meeting in India, amid internal divisions over the US-Israel war on Iran, Al Jazeera reported. BRICS members include Brazil, Russia, India, China and South Africa, as well as newer members Ethiopia, Egypt, Iran, Indonesia and the UAE. Riyadh has yet to formally join the bloc. Without directly naming the UAE, Araghchi told press a BRICS member had blocked parts of India’s statement.

India’s statement highlighted calls for reforms to the United Nations and the Security Council. The bloc reiterated its longstanding demand for greater representation of Global South countries within international institutions, reflecting its broader push for a multipolar world order.

The foreign ministers discussed Israel’s genocidal war on Gaza. They agreed that Gaza was an “inseparable part” of any future independent Palestinian state, stressing the importance of unifying the enclave with the occupied West Bank under the governance of the Palestinian Authority

US and Iran MoU secures $300B fund for Tehran, lifting of US, UN, IAEA sanctions and ceasefire in Lebanon 

The 14-point US-Iran Memorandum of Understanding (MoU), signed by US President Donald Trump at the Palace of Versailles in France and President Pezeshkian of Iran in Tehran on 17 June, 2026, was seen as a win for Iran as the first round of negotiations, mediated by Qatar and Pakistan, concluded in Switzerland, reported the Wire and other media outlets. 

Round Two is still to come but the final deal has to be sealed within 60 days.

The MoU promises Iran a US $300 billion reconstruction fund. NYT reported that Iran also received an immediate waiver from the US Treasury for its oil and petroleum derivatives exports and has been promised the lifting of all US unilateral, UN Security Council and IAEA multilateral sanctions, together with the release of frozen Iranian assets.

No mention is made of either Iranian missile stockpiles or curbs on its proxies. Instead, the MoU explicitly includes Lebanon in the 60-day extended ceasefire. The MoU recognises this by accepting that Iran and Oman will develop a joint management arrangement for the Strait after the ceasefire period. This is likely to include service fees for transiting ships designed in a manner consistent with international law.

NYT argued that Iran’s defiance has reignited global solidarity with Tehran and become, in the eyes of many, a symbol of necessary resistance

China, Canada, EU climate talks: Paris agreement  ‘irreversible’, ‘won’t stop or slow down’  

Talks between the EU, Canada and China were held in Brussels, with all three reaffirming their support for the 2015 Paris Agreement, Euractiv reported adding that the trio represents two of the world’s three largest economies and nearly a third of global GDP. EU Climate Commissioner Wopke Hoekstra, who said the talks provided an “opportunity to help shape what the next decade of climate action must deliver”, the report said.

Reuters quoted Chinese environment minister Huang Runqiu, saying: “The multilateral process will not stop, or even slow down, because of the absence of individual countries”, adding that the ⁠world’s low-carbon transition is “irreversible”.

Big Oil lobby working: Germany urges EU to suspend methane rules after US pressure

Germany has called on the EU to dump new rules that stop methane imports after the US warned that the proposed crackdown on leaks and flares puts Europe’s gas supplies at risk Financial Times reported. 

The newspaper said the Germany intervention “came ahead of a meeting of energy ministers in Luxembourg on Friday, where 12 member states including Italy, the Netherlands and Poland called for a three-year suspension of the legislation. Germany had not signed the declaration, but had previously called for the regulation to be implemented with ‘pragmatism’.”

 The outlet noted: “On Friday, EU energy commissioner Dan Jørgensen told ministers the Commission would not amend the legislation as this ‘would only increase insecurity and uncertainty in the market’. But he said the Commission was working on further guidance to help industries and member states to demonstrate they comply with the rules.” 

World Bank to abandon goal to devote 45% of lending resources to climate change projects

The World Bank said it will “retire” its goal to devote 45% of its annual lending to projects with climate co-benefits, reported  Reuters. 

The newswire addsed that the lender will extend its climate-change action plan, which is due to expire today. It continues: “The development lender, which had been under pressure from the Trump administration to abandon the climate lending target adopted during the Biden administration in 2023, said in a statement it would complete a shift to focusing on lending outcomes rather than input goals.” The US is the biggest shareholder in the World Bank.