🔻Pezeshkian Calls for Expanding Banking Cooperation Among BRICS Members

Masoud Pezeshkian, in his speech at the BRICS summit, called for closer cooperation among the member countries of this economic bloc in areas of banking and monetary affairs.

Referring to U.S. sanctions, he said: “The growing use of economic tools to impose economic pressure has endangered the legitimate trade of other countries.”

The president of Iran said: “The current financial system of the world is vulnerable due to its focus on a few limited currencies; the BRICS bank can become the currency engine of the member countries.”

According to Mr. Pezeshkian, “BRICS’ power becomes more apparent when it moves from potential cooperation to operational cooperation.”

He also said: “Iran is ready, alongside BRICS members, to work toward building a more open and fairer economy… With its exceptional geographic position and energy resources, Iran is prepared to be one of the important links in BRICS’ economic system.”

With the expansion of U.S. sanctions and economic warfare, Iranian officials are seeking to broaden their relations with major countries such as China and Russia in order to move away from a dollar-based financial system.

In another part of his speech at the BRICS summit in New Delhi, the Iranian president said: “BRICS should create an environment in which no country can, through the monopoly of a single financial or technological tool, disrupt the legitimate trade of others.”