Why Iran Wants BRICS To Move Away From Dollar

Iran is asking BRICS countries to use the US dollar less.

Iranian President Masoud Pezeshkian made this appeal while attending the BRICS Summit in New Delhi.

He suggested that the group work toward a common currency.

A common currency would be shared by participating countries for some kinds of trade.

Iran says this could help BRICS members cooperate more closely.

The proposal is part of a broader effort called de-dollarization.

De-dollarization means reducing reliance on the US dollar.

The article does not explain the specific effect this would have on oil prices or oil trading.