Iranian President Masoud Pezeshkian said on Friday that economic security cannot be separated from national and regional security as he talked about ‘extensive’ US sanctions against Iran. He was speaking at Leaders' Session of BRICS Business Forum, on Friday. Pezeshkian said the ‘pressures’ against Iran have gone up in the recent months, as he blamed the US and Israel for aggression.
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“Iran has faced extensive sanctions over the past years. However, in recent months, these pressures have entered a far more dangerous phase as a result of the military active aggression of the US and the Israeli regime against Iran,” he said. Track live updates on BRICS summit
“This active aggression, in addition to human and material losses, once again revealed an important reality - economic security cannot be separated from national and regional security. Whenever the trade, energy, and infrastructure or financial system of country comes under political or military pressure, its effects extend beyond that country's borders and can affect regional stability and even the global one,” he said.
Deep Dive
What recent economic pressures has Iran faced according to President Pezeshkian?
Why does Pezeshkian believe economic security is linked to national and regional security?
How does Pezeshkian suggest BRICS can enhance economic connectivity among its members?
Pezeshkian landed in New Delhi, India on Friday to participate in the 18th BRICS summit being held on September 12 and 13.
Pezeshkian calls for local currency in BRICS trade
The Iranian President also called for a stronger shift toward local currencies in BRICS trade, while pitching Iran's geography, energy resources and transport links as a strategic bridge for the bloc's economic connectivity. Pezeshkian said BRICS must move beyond its economic potential and build a more integrated network of trade, investment and joint financing.
He argued that greater use of national currencies, backed by mechanisms to manage currency risks and reciprocal settlements, would make intra-BRICS trade less vulnerable to political shocks.
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Pezeshkian also positioned Iran as a potential link in BRICS energy, food and transport supply chains, citing its geographical location and energy reserves. He said the current financial system is vulnerable to political shocks due to its concentration on a limited number of currencies.
"One of the most important steps is to expand the use of national currencies in trade among the members," Pezeshkian said at the BRICS Business Forum.