Tehran: President Masoud Pezeshkian has called for expanding the use of national currencies in intra-BRICS trade, describing it as one of the bloc's most essential priorities. In his speech at the BRICS Economic Summit of Heads of State in New Delhi, Pezeshkian emphasized the importance of establishing mechanisms for managing currency risk and mutual settlement, pointing out vulnerabilities in the current financial system due to its reliance on a limited number of currencies.

According to Islamic Republic News Agency, Pezeshkian highlighted that the ongoing conflicts involving the US and the Israeli regime against Iran have underscored the inseparability of economic security from national and regional security. He warned that these conflicts could impact regional stability and the global economy.

Pezeshkian also proposed the establishment of a joint BRICS insurance company, suggesting an initial capital of $10 billion to mitigate risks associated with major infrastructure and energy projects. He expressed Iran's readiness to serve as a strategic partner for BRICS in the energy, food, and transportation supply chains, citing the nation's vast energy reserves and strategic geographical location.

The president reiterated Iran's willingness to collaborate with all BRICS members to foster a more open, resilient, and equitable economy, indicating Iran's commitment to strengthening ties within the bloc.