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Iran Pushes Local-Currency Trade and Energy Role in BRICS
Iran’s president asked BRICS countries to use their own currencies more often when trading with one another.
He said this could make trade less vulnerable to pressure linked to a small number of major currencies.
He also suggested systems to manage currency risks and settle payments between countries.
Iran offered to help BRICS with energy, food and transport connections because of its location and resources.
Pezeshkian said the New Development Bank should provide more funding for infrastructure and energy projects.
He proposed local-currency loans and guarantees to encourage private investors.
He also called for faster customs procedures and fewer trade obstacles.
Iran’s president said BRICS should help create digital-economy standards and protect important computer systems.
The proposals were presented at the BRICS Business Forum in New Delhi before the two-day summit.
Iranian President Masoud Pezeshkian urged BRICS members to expand trade using national currencies.
He proposed currency-risk management mechanisms, reciprocal settlements and gradual financial integration.
Pezeshkian offered Iran as a strategic partner for BRICS energy, food and transport supply chains.
He called for the New Development Bank to finance infrastructure and energy projects through local-currency lending and guarantees.
Pezeshkian also advocated integrated customs procedures, fewer regulatory barriers and stronger digital-economy cooperation.
- Who
- Iranian President Masoud Pezeshkian and BRICS member countries.
- What
- Pezeshkian proposed greater use of national currencies in BRICS trade and offered Iran as an energy and transport partner.
- Where
- The BRICS Business Forum in New Delhi, India.
- When
- Friday, September 11, before the BRICS Summit scheduled for September 12 and 13, 2026.
- Why
- Pezeshkian said reliance on a limited number of currencies makes trade vulnerable to political and economic pressure.
Key facts
- Speaker
- Iranian President Masoud Pezeshkian
- Main proposal
- Expand the use of national currencies in trade among BRICS members.
- Financial institution
- The New Development Bank should become the main financing engine for BRICS infrastructure and energy projects.
- Proposed financing tools
- Local-currency credit lines, financing and guarantees to attract private capital.
- Iran’s proposed role
- A strategic partner and connectivity link for BRICS energy, food and transport supply chains.
- Summit location
- Bharat Mandapam in New Delhi, India.
- Summit dates
- September 12–13, 2026.
Quotes
Masoud Pezeshkian
President of Iran speaking at the BRICS Business Forum
“The question is, what is BRICS’ response to these challenges? We believe that the true strength of BRICS is not confined merely to the size of its members’ economies; rather, it becomes more apparent when these capacities are transformed into a network of trade, investment, and joint financing, that is, a transition from potential cooperation to operational one”
theprint.in
“We believe that BRICS will become a real force in the global economy when our cooperation is reflected in contracts, factories, ports, and the economic lives of the people of member countries”
theprint.in
Sources
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