Since late February, the Middle East has witnessed a major military escalation – the most significant in 20 years – involving the U.S. and key regional states. For BRICS, this crisis has resulted in severe consequences: the disruption of critical trade routes and energy supply chains, strained bilateral relations among several bloc members, interference with the bloc’s agenda-setting capacity, as well as damage to local digital and banking infrastructure.

With the conflict's duration and wider ramifications remaining uncertain, we have formulated seven key questions concerning the impact of this crisis on BRICS and its business agenda.

Read our latest memo to explore how the Hormuz crisis may affect BRICS political dynamics, economic priorities, trade infrastructure and business cooperation in the months ahead.