The Minister of Economy stated that BRICS will play an important role in de-dollarization and reducing the impact of sanctions in the long term, emphasizing that this will be achieved through the development of local currencies, joint payment systems, and transport corridors as well as data and information.
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Minister of Economy: BRICS Will Play an Important Role in De-dollarization and Reducing the Impact of Sanctions in the Long Term
2d ago
September 14, 2026
1 min read
📰 ISNA
📋 Key Takeaway
The Iranian Minister of Economy highlighted the potential long-term benefits of BRICS in reducing reliance on the US dollar and mitigating sanctions. This initiative involves enhancing local currencies and creating cooperative systems. It is significant as it reflects Iran's strategy to counteract economic pressures from sanctions.
🔍 Quick Context Guide
💡 Bottom Line:
Iran sees BRICS as a vital partner in its long-term strategy to counteract sanctions and promote economic resilience.
👥 Key Players
Minister of Economy
MENTIONED
Iranian government official
"Key figure in shaping Iran's economic policies, particularly in response to sanctions."
BRICS
MENTIONED
Economic bloc consisting of Brazil, Russia, India, China, and South Africa
"A significant alternative to Western economic structures, potentially aiding Iran in its economic strategies."
📰 What Happened
The Iranian Minister of Economy announced that BRICS will significantly contribute to reducing Iran's reliance on the US dollar and help mitigate the effects of international sanctions through various economic initiatives.
- BRICS is focusing on developing local currencies and joint payment systems.
- The initiative aims to create transport corridors and enhance data sharing among member countries.
💡 Why It Matters
🇮🇷 For Iran: This initiative is crucial for Iran to reduce economic vulnerabilities caused by sanctions and to foster economic independence.
🌍 Regional: Strengthening BRICS could shift regional economic dynamics, potentially isolating Western influence.
🌐 International: This move may challenge the dominance of the US dollar in global trade, affecting international economic relations.
📚 Background
Iran has faced severe economic sanctions, particularly from the US, prompting the government to seek alternative economic alliances.
Sanctions on Iran
Global de-dollarization trends
📡 Source:
STATE MEDIA
📊 Confidence:
70%
As a statement from a government official, it reflects the official stance of the Iranian government and may emphasize positive outcomes.
🏷️ Entities Mentioned
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Translated from the original and edited for English readers. View original source →
Translation confidence: 85%
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