Iran Warns BRICS of 'Big Threat' From Western Payment Systems, Vows to End Dependence
Iran has called for BRICS nations to reduce their reliance on Western financial systems, warning of the risks posed by such dependence. Addressing the BRICS summit in Russia, Iran’s president urged the bloc to explore alternative structures and strengthen institutions like the New Development Bank to support new members. He reaffirmed Iran’s commitment to reshaping global economic management.
Iran Pushes for BRICS Independence From Western Financial Systems
Iranian President Masoud Pezeshkian emphasized the need for BRICS nations to reduce their dependence on Western financial systems at an extended meeting during the BRICS summit in Kazan, Russia, on Oct. 23. Highlighting the risks of continuing to rely on these systems, Pezeshkian warned:
We should not continue depending on Western payment systems. This is a big threat.
He urged the group to explore alternatives to the dominant global financial structures created by the West.
Pezeshkian reiterated Iran’s commitment to supporting BRICS in its efforts to reform global economic management. He stated:
Iran will do everything for the BRICS group to successfully promote the task of reforming the structure of global economic management and creating alternative possibilities for Global South countries away from politics and geopolitical conflicts.
With BRICS expanding to include new members, he further noted, “As new countries join them, BRICS institutes such as the New Development Bank and the Reserve Fund should assume more responsibility in financing their projects.”
During a separate meeting with Pezeshkian, Russian President Vladimir Putin highlighted the strong alignment between Russia and Iran on international matters. “In general, I would like to emphasize that the approaches of Russia and Iran to the global agenda are close or fully coincide,” Putin said. He noted that both countries are committed to “form a fair multipolar world order, to comply with international norms, to preserve the central role of the UN.” Putin also sent his regards to Iran’s Supreme Leader Ayatollah Ali Khamenei, praising his constructive role in fostering closer Russian-Iranian relations.
