SCMP Business EN

Why has the US-Israeli war on Iran left Brics speechless?

China condemned it. Russia condemned it. Brazil condemned it. Brics, as a bloc, has said nothing. More than a week after US and Israeli strikes killed Iran’s Supreme Leader Ayatollah Ali Khamenei and triggered the worst regional crisis in years, the grouping that positions itself as the collective voice of the Global South has yet to issue a single joint statement. The silence is not an oversight. It is the sound of a bloc whose expansion has outpaced its ability to speak as one, analysts...

Mar 10, 2026 &03031010202631; 06:03 UTC www.scmp.com Trending 5/5

Read original on www.scmp.com ↗

↘

Negative for markets

Sentiment score: -65/100

Moderate impact Medium-term (weeks)

WHAT THIS MEANS

BRICS bloc's inability to issue joint statement on US-Israeli strikes against Iran reveals internal divisions and coordination challenges, despite individual member condemnations. This geopolitical fragmentation could weaken BRICS' influence as a counterweight to Western powers and create uncertainty for emerging market investors.

AI CONFIDENCE

75% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

↓

FTSE MIB (Italy)

FTSEMIB.MIIndex

Expected to decline

European equities pressured by geopolitical tensions and BRICS fragmentation reducing emerging market stability

↓

Euro Stoxx 50

^STOXX50EIndex

Expected to decline

Eurozone exposure to Middle East tensions and reduced BRICS coordination weakens risk sentiment

↑

Euro / US Dollar

EURUSDCurrency

Expected to rise

Safe-haven demand for USD strengthens as geopolitical risks escalate and emerging market bloc credibility diminishes

⇅

Oil (WTI Crude)

CL=FCommodity

High volatility expected

Oil volatility persists due to Iran tensions; BRICS inability to coordinate response increases unpredictability

↑

Gold Futures

GC=FCommodity

Expected to rise

Gold benefits from safe-haven flows amid geopolitical crisis and emerging market uncertainty

PRICE HISTORY

Loading chart...

⚡ SUGGESTED ACTION

Reduce emerging market exposure and increase safe-haven allocations (USD, gold). Monitor BRICS statements closely; any coordinated response could trigger sharp reversals. Consider hedging oil exposure given elevated volatility without stabilizing diplomatic framework.

KEY SIGNALS

BRICS internal cohesion breakdownEmerging market bloc credibility erosionGeopolitical risk premium expansionSafe-haven asset demand surgeMiddle East escalation without coordinated response

SECTORS INVOLVED

EnergyFinancialsEmerging MarketsDefense

Analysis generated on Mar 10, 2026 at 06:14 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by SCMP Business. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Why has the US-Israeli war on Iran left Brics speechless?

RELATED INTELLIGENCE