Tehran, IRNA — Foreign Minister Abbas Araghchi has highlighted the growing importance of BRICS, saying all member states agree on strengthening national currencies and expanding trade using their own currencies.
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BRICS Nations Support Increased Use of National Currencies in Trade, Says Iranian Foreign Minister
4d ago
September 12, 2026
1 min read
📰 IRNA English
📋 Key Takeaway
Iran's Foreign Minister Abbas Araghchi emphasized the consensus among BRICS nations on enhancing the use of national currencies in trade. This development underscores a shift towards reducing reliance on the US dollar in international transactions. For Iran, this could facilitate trade amid ongoing sanctions.
🔍 Quick Context Guide
💡 Bottom Line:
The BRICS nations' support for national currencies in trade is a significant step for Iran, potentially easing its economic isolation.
👥 Key Players
Abbas Araghchi
MENTIONED
Iranian Foreign Minister
"As the Foreign Minister, Araghchi represents Iran's foreign policy interests, especially in the context of sanctions and international relations."
BRICS Nations
MENTIONED
Economic bloc including Brazil, Russia, India, China, and South Africa
"BRICS represents a significant coalition of emerging economies that can influence global trade dynamics, especially against Western dominance."
📰 What Happened
Iran's Foreign Minister Abbas Araghchi announced that BRICS nations are in agreement on promoting the use of their national currencies for trade, reducing reliance on the US dollar. This move is seen as a strategic shift in international trade practices.
- BRICS nations are seeking to enhance trade using their own currencies.
- This development could benefit Iran by facilitating trade amid ongoing economic sanctions.
💡 Why It Matters
🇮🇷 For Iran: This shift could help Iran mitigate the impact of US sanctions by enabling trade with BRICS nations without relying on the dollar.
🌍 Regional: Strengthening trade ties among BRICS could shift regional economic dynamics, potentially isolating Western-aligned countries.
🌐 International: This development may challenge the dominance of the US dollar in global trade, prompting a reevaluation of international financial systems.
📚 Background
The US dollar has long been the dominant currency in international trade, but countries like Iran are seeking alternatives due to sanctions and economic pressures. BRICS represents a coalition of countries looking to enhance their economic independence.
Sanctions on Iran
Global economic shifts
📡 Source:
STATE MEDIA
📊 Confidence:
70%
IRNA is the official news agency of Iran, which may present information that aligns with government perspectives.
🏷️ Entities Mentioned
🌐
Translated from the original and edited for English readers. View original source →
Translation confidence: 100%
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