Story perspectives

BRICS demands WTO dispute-settlement restoration at Sept. 12 summit

By Drooid · Sep 13, 2026, 8:00 AM UTC · How we work

Summary

BRICS Demand WTO Restoration

BRICS finance ministers and central bank governors demanded immediate restoration of the WTO’s two-tier dispute-settlement mechanism on Sept. 12, 2026.
India, hosting the summit, led calls for IMF and World Bank reforms.
BRICS leaders urged faster, cheaper cross-border payments and greater payment-system interoperability.
They supported expanding central-bank digital currencies for cross-border use without creating a unified payments network.

Summary

Pezeshkian Calls Secretariat

Iranian President Masoud Pezeshkian urged BRICS to create a permanent secretariat to implement joint decisions.
Pezeshkian listed four reform priorities: sovereignty, financial cooperation, sanctions opposition, scientific collaboration.
He called for expanding economic cooperation with national currencies and the New Development Bank.
Indian Prime Minister Narendra Modi proposed a Seafarers Emergency Support Network to coordinate maritime distress assistance.
The declaration said no woman has ever been UN Secretary-General and urged greater female leadership.

History

Historical Context

The WTO’s dispute system, created by the 1994 Marrakesh DSU and run by a seven-member Appellate Body, lost its quorum in December 2019 after the United States stopped appointing new judges—a blockage continued under administrations. By April 2025 the WTO said 32 panel rulings had been “appealed into the void.” Today, BRICS finance ministers and Iran’s President Masoud Pezeshkian urge a revival to restore an appellate mechanism.

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BRICS Demand WTO Restoration

BRICS finance ministers and central bank governors demanded immediate restoration of the WTO’s two-tier dispute-settlement mechanism on Sept. 12, 2026.
India, hosting the summit, led calls for IMF and World Bank reforms.
BRICS leaders urged faster, cheaper cross-border payments and greater payment-system interoperability.
They supported expanding central-bank digital currencies for cross-border use without creating a unified payments network.

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