While Iran is a member of global organisations like BRICS, its leader, Ayatollah Ali Khamenei, has urged the country to make the most of its participation.
In a tweet that was verified by him, Khamenei lauded the BRICS financial system and how it may change the face of international trade by allowing member nations to use their own currencies rather than the US dollar. Khamenei made it clear that dollar dependence is not an Iranian problem, highlighting the difficulties that come with it.
He stated, "Those countries [members of BRICS] have also understood this," highlighting how the member states of the group are concerned about the dollar's dominating position in global trade. For the sake of economic stability, he went on to say that Iranian officials and companies should work towards reducing the use of the dollar in trade.
BRICS, which stands for South Africa, Russia, India, China, and Brazil, has lately welcomed Iran as a member, among other countries. The group has been making strides to create decentralised financial systems that are not dependent on the dollar, such as creating systems for trade that use local currencies.
Iran's larger strategy to defeat economic sanctions imposed by the US, which depend largely on the worldwide reach of the dollar, is in line with Khamenei's statements. If the drive to de-dollarize trade is successful, Iran and the other BRICS countries may have more financial independence and be better able to withstand economic pressures from outside.
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