Tuesday, 02 January 2024 12:17 GMT

Iran Urges BRICS to Protect Legitimate Trade from Economic Pressure


(MENAFN) Iranian President Masoud Pezeshkian called on BRICS countries Friday to establish mechanisms that prevent nations from disrupting the legitimate trade of other states, warning that Iran has entered a “far more dangerous” period of economic pressure following the war involving the US and Israel.

Speaking at the 18th BRICS leaders’ summit in New Delhi, Pezeshkian said the international community is facing one of its “most complex periods,” with economic measures increasingly being used as instruments of political pressure.

"What is BRICS’ response to these problems?” he asked.

Pezeshkian argued that the bloc’s influence would become more evident if it moves beyond “potential cooperation to operational cooperation.”

“Iran has faced comprehensive sanctions in recent years, and these pressures entered a far more dangerous phase following the US-Israeli aggression,” Pezeshkian said.

He said the conflict had highlighted another critical issue alongside the human and economic damage, namely that economic security is closely connected to both national and regional security.

“When a country’s trade, energy, infrastructure or financial system is subjected to political and military pressure, the effects go beyond that country’s borders and affect regional stability and the global economy,” he said.

The Iranian president urged BRICS to develop conditions that would safeguard legitimate commercial activity and prevent individual countries from interfering with the trade of others.

He also called for greater use of national currencies in commercial exchanges between BRICS members, reducing reliance on traditional international payment systems.

Pezeshkian further offered Iran’s readiness to become a “strategic partner” in the bloc’s energy and transportation supply networks.

“Iran is ready to work with BRICS members to build a more open and just economy,” he said.

BRICS was established in 2006 and initially brought together Brazil, Russia, India, China and South Africa. Egypt, the United Arab Emirates, Ethiopia and Iran later joined the group, while Indonesia became a member in 2025.

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