Iran committed to de-dollarization alongside BRICS, diplomat says – Tehran Times

TEHRAN – Iran’s Deputy Foreign Minister for Political Affairs, Ali Bagheri Kani, has emphasized Iran’s commitment, alongside other BRICS members, to actively pursue de-dollarization across various economic sectors.

In a recent interview with Sputnik, Bagheri Kani highlighted the focus on trade, economic collaborations, and financial exchanges within this influential coalition of major economies. He emphasized ongoing initiatives and expressed optimism about reinforcing these efforts to swiftly achieve their objectives.

Bagheri Kani underscored the importance of collaborative efforts, signaling a unified commitment within BRICS to reduce dependency on the dollar. He clarified that the initiatives aim to establish a framework fostering economic autonomy and resilience among member nations.

The BRICS group, comprised of Brazil, Russia, India, China, and South Africa, established in 2009, has emerged as a significant force shaping global economic discussions. Iran, alongside Argentina, Egypt, Ethiopia, the UAE, and Saudi Arabia, has received an invitation to join this influential bloc. Their anticipated full membership, official from January 1, 2024, marks a substantial shift in the geopolitical landscape.

Paul Mashatile, South Africa’s Deputy President, echoed the sentiment of BRICS members in prioritizing the reduction of the bloc’s reliance on the dollar. He observed that the world closely watches BRICS as it leads a global discourse aimed at diminishing dependence on the dollar. This acknowledgment underscores the strategic importance of BRICS in shaping the future of international economic relations.

Russia’s Deputy Foreign Minister, Sergey Ryabkov, provided insights into BRICS countries accelerating the transition to national currencies. 

This strategic shift aligns with the shared vision of establishing a more balanced and resilient global economic framework, reducing vulnerabilities associated with a singular currency.

Additionally, in a July meeting between Putin and Dilma Rousseff, the head of the China-based New Development Bank (NBD), also known as the BRICS Bank, mentioned developing an alternative currency to the U.S. dollar. The NBD, founded in 2014, aims to move away from the US dollar in international trade, introducing other currencies for financial transactions.

Furthermore, BRICS has announced plans to introduce a gold-backed currency for settling international trade payments, challenging the global reserve status of the U.S. dollar. This decision adds momentum to the ongoing de-dollarization trend unfolding in the global economy.

Iran’s active involvement in the BRICS initiative toward de-dollarization aligns with a broader trend among influential nations reshaping the global economic landscape. As BRICS evolves, its concerted efforts toward economic autonomy become increasingly significant in shaping the future of international trade and finance.


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Javier Ortiz

Navegando entre las corrientes de la información con pasión y destreza, soy Javier Ortiz, un Experto en Artículos Web que teje palabras con la intensidad de un golazo en el último minuto. Mi paso por la Universidad Antonio de Nebrija templó mi pluma con el calor del conocimiento. Como un cronista de la vida moderna, mis escritos surcan desde los campos de fútbol hasta los extremos del deporte, desde los engranajes de la economía hasta los laberintos de la política, y desde los misterios de la religión hasta las alturas de la espiritualidad. Cada palabra es un punto en la red, tejido con la fibra de la autenticidad. Únete a mí en este viaje donde las letras se convierten en senderos de emoción, donde el fútbol comparte espacio con la adrenalina, donde el motor económico se conecta con el engranaje político y donde la esencia humana encuentra su refugio en el vasto mar de la espiritualidad.

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