The U.S. slapped heavy sanctions on Russia after its Feb. 2022 invasion of Ukraine, including major blocks on the transactions of Russian financial institutions, banning U.S. imports of Russian energy products, and personal sanctions on Russian oligarchs in Putin's inner circle.

India's Narendra Modi told Russian President Putin on the eve of the BRICS summit that he wanted peace in Ukraine and that New Delhi was ready to help achieve a truce to end Europe's deadliest conflict since World War Two.

Representing 41.1% of the world’s population and 37.3% of its GDP, the bloc aims to counterbalance United States-led Western alliances.