Iran president sees BRICS as platform to reduce dollar dependence

Iranian President Masoud Pezeshkian has called for greater economic cooperation among BRICS nations as a means to diminish dependence on the American dollar in international transactions. Speaking in an exclusive interview, Pezeshkian emphasized the potential for member states to coordinate on multiple fronts beyond traditional currency arrangements.

The Iranian leader's remarks reflect ongoing efforts within the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—to explore alternative payment mechanisms and reduce reliance on dollar-denominated trade. Such discussions have gained momentum as several member nations, particularly Russia and Iran, face restrictions on accessing dollar-based financial systems.

Pezeshkian's comments align with broader BRICS initiatives to strengthen intra-bloc trade and develop parallel financial infrastructure. India, as a major BRICS member, has pursued similar objectives through regional payment systems and bilateral trade arrangements with partner nations.

The proposal underscores persistent tensions between BRICS nations and Western-dominated financial institutions, with member states seeking greater autonomy in economic decision-making. However, analysts note that transitioning away from dollar dominance presents significant structural challenges given the currency's entrenched position in global commerce.