Iran pushes BRICS to adopt national currencies, reduce trade vulnerabilities

Speaking at the BRICS Business Forum, Pezeshkian called for a fundamental restructuring of trade mechanisms within the bloc to insulate member nations from external political pressures. He advocated for the adoption of national currencies backed by robust mechanisms to manage currency fluctuations and facilitate reciprocal settlements, arguing such measures would strengthen intra-BRICS commerce against geopolitical disruptions.

The Iranian leader outlined a vision for deeper economic integration across the bloc, emphasizing the need to move beyond theoretical potential into concrete joint ventures spanning trade, investment and financing partnerships. He stressed the importance of modernizing trade infrastructure through digitalized customs systems, streamlined regulatory frameworks and expanded cross-border trading platforms.

Pezeshkian positioned Iran as a pivotal node in BRICS supply chains, highlighting the nation's strategic geographic location, substantial energy reserves and extensive transport corridors. He underscored Iran's potential contributions to regional energy security, food supply and logistics networks that could strengthen the bloc's collective economic resilience.

The Iranian president additionally called on the New Development Bank, BRICS's multilateral lending institution, to play a more active role in financing integrated regional development projects. His remarks reflected broader BRICS efforts to establish alternative economic structures that reduce dependence on Western-dominated financial systems.