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Iran Working on Joining BRICS New Development Bank, Foreign Minister Says

Iran Working on Joining BRICS Development Bank, Foreign Minister Says
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IndiaIran
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Economic GrowthInclusive MultilateralismInstitutional Development

Source: Natural News | Original Published At: 2026-09-15 04:54:22 UTC

Key Points

  • Iranian Foreign Minister Abbas Araghchi said Iran is working on joining the New Development Bank established by BRICS.
  • The remarks were made during the 18th BRICS summit in New Delhi on September 12-13, with India holding the bloc's rotating chairmanship.
  • Araghchi did not provide a timeline, membership terms, or details of a formal application, and the bank had not issued an immediate public response.
  • Iran's central bank governor and president have also publicly supported expanded financial cooperation with BRICS institutions and national-currency financing.
  • The New Development Bank was established in 2015 by Brazil, Russia, India, China, and South Africa and has later expanded to include other emerging economies.
  • Iran frames its push toward BRICS financial mechanisms as part of efforts to build alternative payment and settlement channels amid sanctions and restricted access to global financial systems.
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