No Proposal For BRICS Currency: S Jaishankar After Trump's Tariff Warning

External Affairs Minister S Jaishankar, speaking at the Doha Forum, emphasised the need for innovative and participative diplomacy. He noted that the global focus is shifting towards negotiation rather than prolonging the Russia-Ukraine conflict. Jaishankar highlighted how conflicts in regions like the Gulf and Mediterranean affect countries worldwide, including India, by increasing costs for oil, fertilisers, and shipping.

Jaishankar addressed a panel alongside Qatar's Prime Minister and Foreign Minister Mohammed bin Abdulrahman and Norway's Foreign Minister Espen Barth Eide. Discussing the Gulf region and Syria, he pointed out escalating conflicts such as Israel-Iran tensions and their impact on Asian shipping routes. He urged diplomats to step forward despite these challenges.

Diplomacy's Evolving Role

The minister stressed that the era when the UN Security Council or Western powers managed conflicts is over. He called for more vigorous, innovative, and participative diplomacy. "More countries need to have the boldness to bypass the West," he stated. Jaishankar believes that all nations should actively engage in resolving global issues.

When asked about India's role in the Russia-Ukraine situation, Jaishankar said negotiations are becoming more realistic than continuing war. He described India's efforts to mediate by engaging with both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky, aiming to find common ground for future discussions.

India's Global Engagement

Jaishankar highlighted India's representation of 125 Global South countries affected by rising fuel, food, inflation, and fertiliser costs due to the war. He noted European leaders encouraging India to keep engaging with Russia and Ukraine. "Things are moving somewhere in that direction," he added.

The minister also addressed recent remarks by US president-elect Donald Trump about imposing tariffs on BRICS if they pursued a BRICS currency. Jaishankar clarified that India has never supported de-dollarisation and there is no current proposal for a BRICS currency.

Complex International Relations

Responding to questions about an anti-American axis involving Russia, China, North Korea, and Iran, Jaishankar explained that countries have varied interests. They may agree or disagree on different issues but often work together in various combinations. He cautioned against oversimplifying these relationships as it could lead to self-fulfilling prophecies.

The Doha Forum serves as a platform for global dialogue among policy leaders to address critical challenges and foster action-driven networks. Under its theme 'Diplomacy, Dialogue, Diversity', it encourages exchanging ideas for policy-making and actionable recommendations.

The forum's website states: "In a world where borders are porous, our challenges and solutions are also interlinked." This highlights the interconnected nature of modern global issues and solutions.