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Iran Urges BRICS to Shift Trade to National Currencies

By Markets Desk · 2026-09-13 · 2 min read
A cluster of diverse national flags arranged in a circle around a central globe
Illustration: Tradingbird

Iranian President Masoud Pezeshkian demanded that BRICS nations expand trade in local currencies to reduce reliance on dominant financial systems. He cited vulnerability to political shocks and sanctions as key drivers for this structural shift.

Iranian President Masoud Pezeshkian stated that BRICS must expand trade in national currencies. He argued that current reliance on existing financial systems leaves emerging economies exposed to political shocks. Pezeshkian delivered these remarks during the concluding session of the two-day BRICS summit. The call for a more inclusive economic framework aims to reduce dependence on dominant global trade mechanisms.

The Iranian leader criticized unilateral sanctions for harming global food security. He linked these measures to broader vulnerabilities in the international economic order. Pezeshkian emphasized that no single center of power should determine the economic destiny of other nations. This stance reflects a push for a balanced and just international structure.

Sanctions impact global food security

Pezeshkian noted that recent US sanctions have tightened pressure on Iran’s finances. These measures coincide with ongoing military hostilities between the two sides. The president stated that attacks on economic and energy infrastructure create regional repercussions. He warned that such damage extends beyond immediate economic losses to affect natural resources.

The leader highlighted the direct link between sanctions and welfare. He argued that excessive reliance on limited trade systems increases vulnerability. Pezeshkian called for stronger roles for the New Development Bank in enhancing resilience. This approach seeks to build systems that protect countries against future shocks.

Geographic potential drives trade corridors

Iran’s geographical position offers significant energy and transit potential. Pezeshkian suggested these assets could develop new trade corridors among BRICS members. He emphasized that no country can tackle global challenges alone. The goal is to transform national capacities into shared regional strengths.

The president identified knowledge and innovation as key agenda items. He stated that artificial intelligence should empower nations rather than serve as tools of domination. Pezeshkian affirmed Iran’s readiness to contribute its capabilities to BRICS cooperation. Resilience requires sustained cooperation and practical measures for sustainability.

Sustainability requires equitable development frameworks

Pezeshkian warned that development widening inequality is not sustainable. He argued that shifting costs to future generations violates core sustainability principles. The environmental impact of wars was cited as a critical concern. Damage to industrial infrastructure can degrade natural resources over time.

The summit theme of resilience and cooperation was praised. Pezeshkian thanked India for hosting the event. He stressed the need to build systems that strengthen nations against future shocks. This perspective aligns with the broader demand for a fairer global order.

According to GN markets/fx (en-US), the push for national currency trade signals a strategic pivot. Emerging economies are seeking alternatives to dominant financial systems. This move aims to mitigate the risks associated with geopolitical instability. The focus remains on practical measures for economic resilience.

Based on reporting by dailypioneer.com, compiled by the Tradingbird desk.

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