Paknejad, who is visiting India to participate in the two-day ministerial gathering being held in Gurugram, Haryana, discussed avenues for enhancing cooperation in the hydrocarbon sector with Indian counterparts. The meeting comes at a crucial time for global energy markets, which continue to face challenges amid geopolitical tensions and shifting supply dynamics.
Addressing the BRICS Energy Ministers' Meeting, the Iranian minister presented the Islamic Republic of Iran's perspectives on key issues confronting the global energy sector. He emphasized the importance of collaboration among BRICS nations in addressing energy security, sustainability, and future energy challenges.
Speaking upon his arrival in New Delhi, Paknejad highlighted the deep-rooted historical relationship between India and Iran and expressed Tehran's readiness to expand economic engagement with New Delhi.
He stated that India and Iran have shared historical ties for centuries and stressed that Iran is prepared to pursue broader economic relations with India, particularly in the energy sector. He added that discussions during bilateral meetings and conference sessions would help determine future areas of cooperation.
Commenting on sanctions-related issues, Paknejad said that a 60-day waiver arrangement is currently in place and that Iran is proceeding based on understandings reached with the United States regarding sanctions-related matters.
During his visit, the Iranian minister is scheduled to engage with government officials and representatives from India's energy sector. Key agenda items include expanding cooperation in the oil and gas industry, exploring investment opportunities, and exchanging views on recent developments in global energy markets.
The discussions are taking place against the backdrop of evolving regional and international developments involving Iran and the United States. Market sentiment has shown signs of improvement following the signing of a 14-point Memorandum of Understanding on June 17. The first round of high-level negotiations subsequently concluded in Burgenstock, Switzerland, where mediators Qatar and Pakistan announced an agreed roadmap aimed at achieving a final agreement within 60 days.
On the sidelines of the BRICS meeting, Paknejad also held talks with Union Minister of Power and Minister of Housing and Urban Affairs Manohar Lal. According to a statement issued by the Iranian Embassy, both sides underscored the importance of expanding bilateral cooperation in the energy sector and explored ways to further strengthen collaboration between the two countries.
The 11th BRICS Energy Ministers' Meeting, being held on June 25 and 26, has brought together energy ministers and senior officials from all BRICS member states to advance cooperation in energy security, sustainability, and innovation. The gathering serves as a key platform for coordinating energy policies and strengthening partnerships among emerging economies.
India is hosting the meeting under its BRICS Chairship for 2026, marking the country's fourth tenure as chair after previous chairships in 2012, 2016, and 2021. India's presidency is guided by the overarching theme, "Building for Resilience, Innovation, Cooperation and Sustainability (BRICS)." Within the Energy Track, India has adopted the theme "Energy for All," reflecting the collective commitment of member nations to ensuring universal access to energy.
India has structured the BRICS Energy Agenda around three core priorities: Energy Security and Sustainability, Energy Access and Equity, and Technology and Innovation. These pillars are expected to guide discussions on future cooperation and policy coordination among member countries.
BRICS currently comprises 11 nations — Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the United Arab Emirates. Together, these countries represent nearly half of the world's population and contribute approximately 40 percent of global gross domestic product, underscoring the bloc's growing influence in shaping the future of global energy governance and economic cooperation.
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