Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the creation of a new currency to reduce reliance on the U.S. dollar and mitigate the impact of sanctions. During a meeting with Russian Presidential Adviser Anton Kobyakov, Jalali discussed Iran’s participation in the upcoming BRICS Summit in Kazan and the BRICS Business Forum in Moscow. Both nations cooperate successfully in OPEC+, Shanghai Cooperation Organization (SCO), and BRICS, with Iran’s role being crucial in stabilizing the region. The collaboration extends to various sectors including healthcare, science, and technology. As of January 1, 2024, BRICS includes ten member countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.
Iran Backs Russia on BRICS Single Currency Initiative
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