IRAN TO BECOME MEMBER OF BRICS BANK, INCREASING ECONOMIC COOPERATION, TRADE - REPORT
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| Source | Latest linked headline | Age |
|---|---|---|
| JPost.com - The Jerusalem Post - | IRAN TO BECOME MEMBER OF BRICS BANK, INCREASING ECONOMIC COOPERATION, TRADE - REPORT | 17 mins ago |
WHAT HAPPENED
According to JPost.com – The Jerusalem Post, Iranian President Ebrahim Raisi’s chief of staff, Hemmati, announced that Iran is expected to become a member of the BRICS Development Bank (New Development Bank) in the near future. This move is intended to increase economic cooperation and trade between Iran and the BRICS member states.
The announcement was reported by the semi‑official Tasnim News Agency. Hemmati indicated that Iran’s accession will be formalised soon, though no specific timeline or membership terms were disclosed. The statement suggests a strategic effort by Iran to expand its financial ties outside of traditional Western‑led institutions.
The BRICS Development Bank is a multilateral development institution established by Brazil, Russia, India, China and South Africa to fund infrastructure and sustainable development projects within member economies. Iran’s potential membership could provide it with new funding avenues and lessen reliance on Western-dominated financial markets.
- Iran is set to join the BRICS Development Bank in the near future, per JPost.com and Tasnim News Agency reports.
- The move aims to broaden economic cooperation and trade links between Iran and BRICS countries.
- No specific timeline, membership criteria, or financial terms have yet been disclosed.
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