# Iran's president: no surrender

> Pezeshkian rules out yielding to Washington while Modi pushes diplomacy and BRICS bristles at the old world order.
- Title: Iran's president: no surrender · CNBC | Shortify
- Summary: Pezeshkian rules out yielding to Washington while Modi pushes diplomacy and BRICS bristles at the old world order. The Iran war has moved from a regional…
- Keywords: iran, india, brics, oil, geopolitics, business, finance, Iran's, president, surrender, CNBC
- Source: CNBC — https://cnbc.com/2026/09/12/iran-us-israel-war-india-brics.html
- Author: Priyanka Salve
- Published: 2026-09-12T08:44:39+00:00
- Read time: 1 min
- Topics: iran, india, brics, oil, geopolitics, business, finance
## No surrender from Tehran
Speaking to Indian religious leaders in New Delhi on Friday, President Masoud Pezeshkian said Iran has stood up to both the U.S. and Israel and will not back down.

> Since we are seeking truth and justice, we will not yield in front of bullying arrogance.
## Trump has no regrets
The remarks followed Trump's claim that Iran would have wiped out Israel and struck U.S. cities without American military action.

> If I had it to do again, I would do exactly what I did.
## Modi asks for talks
In their bilateral meeting, Modi raised seafarer safety, freedom of navigation, and repeated his call to settle the Middle East conflict through dialogue and diplomacy.
## Hormuz is choked
Oil and cargo through the strait between Iran and Oman have slowed to a trickle since the war began on Feb. 28, leaving ships and crews stranded for weeks or months.
## India pays the price
India imports nearly 85% of its fuel via Hormuz. Two vessels carrying 30 Indian seafarers were attacked in July, and the government counts 10 crew deaths from the conflict.
## A pyramid of privilege
Chairing BRICS, Modi said the Global South lacks power over decisions that affect it and called for reform of the UN Security Council and global financial institutions.

> pyramid of privilege
## Rivals sign the same page
BRICS unanimously backed a declaration on protecting civilians, with Iran and the UAE both approving weeks after Abu Dhabi froze trade over missiles fired toward its waters.

> deep concern over the continued escalation of tensions in Middle East
## Key takeaway

The Iran war has moved from a regional fight to a global economic problem, and India, importing 85% of its fuel through the Strait of Hormuz, is the one paying most for the standoff.