Brief by Shorts91 Newsdesk / 08:50am on 12 Sep 2026,Saturday India Global
Iranian President Masoud Pezeshkian urged BRICS countries to reduce dependence on the US dollar and Western financial systems during the BRICS Business Forum in New Delhi. He called for greater use of national currencies in bilateral trade, along with mechanisms to manage currency risks and facilitate reciprocal settlements. Pezeshkian also proposed strengthening the New Development Bank to finance infrastructure and energy projects through local-currency lending and guarantees. He argued that reducing reliance on dominant currencies could protect BRICS economies from sanctions and political pressures. His remarks come amid continuing tensions between Iran and the US and wider global economic uncertainty.
