Politics · India Bureau
Iran's Pezeshkian urges BRICS to challenge Western economic dominance
At the closing of the BRICS summit, Iranian President Masoud Pezeshkian called for the bloc to reduce reliance on Western-controlled financial systems and expand trade in national currencies. He criticized unilateral sanctions for undermining global food security and economic stability.
LSN India ·
Iranian President Masoud Pezeshkian on Sunday used BRICS's concluding summit session to advocate for a fundamental restructuring of global economic architecture, arguing that emerging economies must wean themselves off dependence on Western-dominated financial and trade systems.
Pezeshkian urged BRICS members to expand bilateral and multilateral trade conducted in their own national currencies rather than relying on existing frameworks controlled by Western powers. He contended that such economic vulnerability exposes developing nations to political shocks and economic coercion through sanctions.
The Iranian leader took direct aim at what he termed "unilateral sanctions" imposed by Western nations, arguing that such measures have direct consequences for global food security and human welfare. His comments came as the United States has intensified economic pressure on Iran amid escalating military tensions between the two countries.
Pezeshkian characterized BRICS as having evolved beyond a mere cooperative framework for emerging economies into a symbol of global demand for a more equitable international order. He emphasized that no single center of power should have authority to dictate the economic or political destiny of other nations, reflecting broader frustration among BRICS members with the existing Western-led international system.