TEHRAN— Iranian President Masoud Pezeshkian called on BRICS members on Friday to expand the use of national currencies in trade, strengthen financial cooperation, and build more resilient economic ties among member states, warning that economic security can no longer be separated from national and regional security.

Addressing the BRICS Business Forum in New Delhi, Pezeshkian said the grouping's true strength would emerge only when the economic capacities of its members are transformed into practical networks of trade, investment, and financing — a transition, he stressed, "from potential cooperation to operational cooperation."

"Economic resilience is not possible without diversification of trade partners, financing sources, and payment mechanisms," Pezeshkian told the forum, noting that Iran has faced extensive sanctions over the years, pressures that he said entered a "very difficult and dangerous phase" in recent months with US and Israeli military aggression against the Islamic Republic.

That aggression, he added, alongside its human and material costs, once again laid bare a fundamental reality: "Economic security is not separate from national and regional security. Whenever a country's trade, energy, infrastructure, or financial system comes under political-military pressure, its effects transcend that country's borders and impact the region and even the global economy."

The Iranian president said the growing use of economic tools for political pressure, along with geopolitical uncertainty and disruptions to supply chains, have made the global economic environment more complicated. He urged BRICS to develop mechanisms that would prevent any country from disrupting legitimate trade by monopolizing financial or technological instruments.

From fragmented cooperation to integrated trade infrastructure

Pezeshkian called for a shift "from fragmented cooperation to the gradual integration of trade infrastructure" within BRICS, proposing greater digitalization and integration of customs procedures, the removal of regulatory and administrative barriers, expansion of cross-border markets, and facilitation of joint private-sector investment.

He also called for stronger cooperation on standardization so that BRICS could move beyond raw-material trade toward integrated value chains and joint industrial production.

Describing food and energy security as "two fundamental pillars of economic security," Pezeshkian said Iran, given its major energy reserves and strategic geographic position, is ready to serve as a strategic partner in BRICS energy, food, and transportation supply chains.

National currencies and a reinforced 'New Development Bank'

Pezeshkian identified expanding the use of national currencies in intra-BRICS trade as one of the most important steps, saying it should be accompanied by mechanisms for managing currency risks, "because the current financial system, due to its concentration on a limited number of currencies, is vulnerable to political shocks."

To turn trade cooperation into real investment, he proposed that the New Development Bank become a major source of financing for infrastructure and energy projects through special credit lines, local-currency financing, and guarantees to attract private investment.

$10 billion joint reinsurance company

In one of his most concrete proposals, Pezeshkian called for the establishment of a joint BRICS reinsurance company with initial capital of $10 billion to cover risks associated with major infrastructure and energy projects and to increase private-sector confidence.

AI and digital economy

Turning to emerging technologies, Pezeshkian said BRICS "should not merely be a consumer of technology" but should contribute to knowledge production and the development of digital-economy standards, while also strengthening cybersecurity for critical infrastructure amid 'a fundamental transformation of the global economy driven by artificial intelligence.'

From dialogue forum to executive engine

He called on the BRICS Business Council to move from being a forum for dialogue to an executive engine of economic cooperation, with its working groups setting concrete and measurable projects based on indicators such as intra-BRICS trade growth, the share of national currencies in trade, and the volume of private investment.

Pezeshkian concluded by expressing Iran's readiness to serve as an important economic link within BRICS due to its strategic geography and energy resources, and to work with all members toward a more open, resilient, and equitable global economy.

"We believe BRICS will become a real force in the global economy when our cooperation is visible in contracts, factories, ports, and the economic life of the people of member states," he said.

BRICS, a key platform to counter unilateralism and expand economic cooperation

Speaking before departing for New Delhi to attend the 18th BRICS Summit, Pezeshkian described the grouping as a vital platform for dialogue with major countries and for expanding economic, trade, industrial, and scientific cooperation among member states. He emphasized that BRICS serves as an important mechanism for strengthening multilateralism in international relations, with the participation of China, Russia, Brazil, India, and other regional countries offering valuable opportunities for bilateral and multilateral consultations. 

Pezeshkian noted that BRICS currently comprises 21 members—11 full members and 10 official partners known as BRICS Plus—accounting for more than 45 percent of the world's population and approximately 35 percent of global territory. He identified countering unilateralism and enabling countries to preserve their independence while expanding commercial relations as one of the bloc's principal objectives, adding that this year's summit centers on solidarity, sustainability, resilience, and innovation.