Iran’s Pezeshkian urges BRICS trade in national currencies, criticizes Western sanctions

Iranian President Masoud Pezeshkian on Sunday called on BRICS to expand trade in national currencies and work towards a more inclusive global economic framework, saying excessive dependence on existing financial and trade systems had left emerging economies vulnerable to political shocks.Addressing the concluding session of the two-day BRICS summit, Pezeshkian also took a swipe at Western powers over “unilateral sanctions”, saying they directly affected global food security and people's welfare.His remarks came weeks after the US imposed fresh economic sanctions on Iran, tightening pressure on Tehran's finances amid ongoing military hostilities between the two sides.Pezeshkian calls for more balanced global orderPezeshkian said BRICS had evolved beyond a framework for cooperation among emerging economies and now represented growing demand for a more balanced and inclusive world in which “no centre of power has the right to determine the destiny of others”.He said BRICS must play a greater role in building a balanced, inclusive and just international order, with resilience, cooperation and sustainability translated into practical action.Pezeshkian said economic resilience could not be sustained without security, referring to what he described as military aggression by the US and Israel against Iran.He said attacks on Iran's economic, energy and development infrastructure could have consequences beyond its borders, with regional and global repercussions. The Iranian people had paid a heavy price, with civilians killed and infrastructure built over decades damaged, he said.Pezeshkian said the international community had a responsibility to protect civilians and prevent the “normalisation of attacks on civilian targets”.Sanctions impacting food security, welfare: PezeshkianThanking India, its people and Prime Minister Narendra Modi for hosting the summit, Pezeshkian said its theme, Resilience, Cooperation and Sustainability, reflected fundamental global needs at a time when the destinies of nations were increasingly interconnected.He said the challenge before the international community was not merely to manage current crises but to build a system that strengthened nations against future crises and created a fairer world.Pezeshkian said excessive dependence on limited financial and trade systems had made economies vulnerable to political shocks. Unilateral sanctions directly affected food security and people's welfare, he said.He called for greater trade in national currencies and a stronger New Development Bank to improve the economic resilience of BRICS members.Pezeshkian also highlighted Iran's geopolitical position and its energy and transit capacities, saying these could help develop trade and energy corridors among BRICS members.Pezeshkian raises Gaza, Lebanon conflictsReferring to Gaza and Lebanon, Pezeshkian said people in the region continued to face the consequences of “crimes and genocide”.He called on BRICS to play a more effective role in defending national sovereignty and territorial integrity and upholding the prohibition on the use of force.Pezeshkian said no country could tackle global challenges alone and called for transforming the capacities of the Global South into shared capabilities.On sustainability, he said development that widened inequality or transferred present-day costs to future generations could not be sustainable.He also raised concerns over the environmental consequences of war, saying damage to energy and industrial infrastructure could affect natural resources in addition to causing economic losses.PM Modi Pauses BRICS Summit Speech To Check On Xi Jinping, Asks ‘Is It Okay?’AI, innovation key to BRICS agendaPezeshkian identified knowledge and innovation as important elements of the BRICS agenda, saying artificial intelligence (AI) and emerging technologies should empower nations rather than become instruments of domination.He reaffirmed Iran's readiness to contribute its capacities to BRICS cooperation, stressing that resilience required sustained cooperation, cooperation required justice, and sustainability was impossible without peace and security.“Let us turn BRICS into a platform for translating these principles into practical action,” Pezeshkian said, adding that building a future in which growth, security and development were possible for all was a shared responsibility towards future generations.

New Delhi, BRICS must expand trade in national currencies and work towards an inclusive global economic framework as excessive dependence on existing financial and trade systems has made emerging economies vulnerable to political shocks, Iranian President Masoud Pezeshkian said on Sunday.In an address at the BRICS summit, Pezeshkian, taking a swipe at Western powers, was also critical of "unilateral sanctions", saying they are directly impacting global food security and people's welfare.The Iranian leader's remarks came weeks after the US imposed new economic sanctions on Iran, tightening the squeeze on Tehran's finances amid ongoing military hostilities between the two sides.The BRICS must play a greater role in building a more balanced, inclusive and just international order, the Iranian president said, stressing that resilience, cooperation and sustainability should be translated into practical action.The Iranian president said economic resilience could not be sustained without security, referring to what he described as the military aggression by the United States and Israel against Iran.The attacks on Iran's economic, energy and development infrastructure could have consequences beyond national borders, creating regional and global repercussions, he said.Pezeshkian said the Iranian people had paid a heavy price, with civilians killed and infrastructure built over decades damaged.The Iranian president said the international community has a responsibility to protect civilians and prevent the "normalisation of attacks on civilian targets".Pezeshkian thanked India, its people and Prime Minister Narendra Modi for hosting the summit, saying its theme -- "Resilience, Cooperation and Sustainability" -- reflected the fundamental global needs at a time when the destinies of nations are increasingly interconnected.He said the international community's challenge was not merely to manage current crises, but to build a system that strengthens nations against future crises and creates a fairer world.Delving into pressing economic challenges, Pezeshkian said excessive dependence on limited financial and trade systems had made economies vulnerable to political shocks.Unilateral sanctions directly affected food security and people's welfare, he said, pitching for expanding trade in national currencies and strengthening the New Development Bank to enhance the economic resilience of BRICS members.On the situation in Gaza and Lebanon, Pezeshkian said the people of the region continued to face the consequences of "crimes and genocide". He called on BRICS to play a more effective role in defending national sovereignty, territorial integrity and the prohibition of the use of force.Elaborating on global challenges, Pezeshkian said no country could address them alone and called for transforming the capacities of the Global South into shared capabilities.He highlighted Iran's geopolitical position and energy and transit capacities, saying these could contribute to the development of trade and energy corridors among BRICS members.On sustainability, he warned that development that increases inequality or transfers today's costs to future generations cannot be sustainable.The Iranian president also flagged concerns over the environmental consequences of war, saying damage to energy and industrial infrastructure can affect natural resources beyond economic losses.Pezeshkian identified knowledge and innovation as key elements of the BRICS agenda, stressing that artificial intelligence and emerging technologies should serve as tools for empowering nations rather than instruments of domination.