Iran’s Pezeshkian pitches BRICS financial architecture to accelerate de-dollarisation
Cooperation areas
Source: Business Today | Original Published At: 2026-09-11 11:00:31 UTC
Key Points
- Iranian President Masoud Pezeshkian urged greater use of the BRICS financial architecture to reduce member countries’ dependence on the US dollar.
- He said the New Development Bank was created to help countries move away from dollar reliance and counter what he described as US efforts to maintain financial dominance.
- Iran joined BRICS in 2024 and has been seeking alternative financial channels amid US sanctions, including expanding trade with BRICS partners in national currencies.
- Iran’s central bank governor said in August that Tehran was preparing to join the New Development Bank and wanted to expand local-currency trade with BRICS members.
- De-dollarisation and alternative payment mechanisms are increasingly prominent in the broader BRICS economic agenda, though practical challenges remain.
- Pezeshkian is scheduled to attend the 18th BRICS Leaders’ Summit in New Delhi and meet Indian Prime Minister Narendra Modi.