The BRICS Summit in Delhi may have only just begun this morning, but already, a key decision is emerging from the summit of the new economic power lobby of the world. India and China have defiantly declared their intention to continue trading with Iran. This is a direct rebuff to attempts by the U.S to force them and other countries to cut economic ties with Tehran over its nuclear programme. As India and China raised a banner of revolt at the US-led efforts to economically strangle Iran, they received support from Russia, South Africa and Brazil. This is an exercise that could resonate around the world as a flexing of muscles by the BRICS powers, the new grouping of emerging powers while the BRICS leaders are busy in the group's fourth summit meeting in Delhi this week.

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