India is set to take over the BRICS presidency on January 1, 2026. This milestone arrives as American policies have inadvertently drawn India, Russia, and China closer together. This convergence is strengthening the bloc’s influence on the global stage.
Earlier this year, US President Donald Trump threatened 100 percent tariffs on BRICS nations. This move underscores the strategic weight this alliance now carries in international affairs.
BRICS countries are intensifying collaboration in agriculture, treating food security as a strategic priority. Their initiatives now span agricultural trade, technology transfer, and climate-adapted farming.
This coordinated approach could pose a major challenge to US influence in 2026. Analysts are watching the bloc’s growing cohesion with great interest.
The combined production of crude oil, gold reserves, and economic scale determines global bargaining power. BRICS holds a large share of this critical power.
The bloc has repeatedly challenged the dominance of the US dollar. Their collective economic might provides a substantial foundation for this effort.
The World Energy Statistics Review 2025 states BRICS produced about 42 percent of the world’s oil in 2024. This represents a massive share of a vital global resource.
China and Russia alone hold over 14 percent of global central bank gold reserves. Including other members, the bloc possesses around 20 percent of these reserves.
India’s share stands out significantly when domestic gold holdings are added. It surpasses that of many other nations, bolstering the alliance’s financial strength.
According to the World Bank, China, India, Brazil, and Russia ranked among the world’s 11 largest economies in 2024. BRICS nations accounted for roughly 29 percent of global GDP that year.
With economic growth and new members, the bloc’s overall influence has grown rapidly. Its economic footprint is expanding at a notable pace.
In a historic move this August, India issued an official circular allowing BRICS nations to conduct all trade in Indian rupees. This directly challenges the global dominance of the US dollar.
Experts believe this step could accelerate the decline of dollar dominance. The Reserve Bank of India has instructed banks to open more dedicated vostro accounts without prior approval.
This allows exporters and importers from other nations to trade directly in rupees. It is a practical mechanism to bypass traditional dollar-based systems.
BRICS countries are actively working on an independent payment system outside the US dollar. This raises new concerns in Washington about weakening American financial influence.
Brazil’s Ambassador to Russia stated building this BRICS payment mechanism is realistic and achievable. It represents a top strategic priority for the bloc.
The initiative’s foundation was laid during Russia’s BRICS presidency in 2024. Discussions are continuing under Brazil’s leadership this year.
Despite US sanctions on Russian oil companies, Indian refiners continue to import non-restricted crude. Bilateral relations have remained strong despite Western pressure.
The Times of India reports that even after Trump imposed sanctions, December saw stable oil imports from Russia. This demonstrates the resilience of this economic partnership.
Reuters reports India is expected to import over one million barrels of Russian crude per day in December. This contradicts expectations of a significant decline.
Refiners continue purchasing discounted crude from non-sanctioned Russian suppliers. The economic incentives are simply too strong to ignore.
According to Bloomberg, Reliance Industries Limited has restarted buying Russian crude at discounted rates. It is transporting this oil to its refinery in Gujarat.
The company has contracted Aframax tankers from RusExport to ensure the flow. This move could help offset the decline in India’s Russian oil purchases.
Officials say it may reduce any shortfall by more than half this month. The practical cooperation within BRICS continues to deepen, challenging the established financial order.