BRICS Summit: Iran President Masoud Pezeshkian Slams Western Sanctions, Calls For Trade In National Currencies

Iranian President Masoud Pezeshkian on Sunday called on BRICS to expand trade in national currencies and work towards a more inclusive global economic framework, saying excessive dependence on existing financial and trade systems had left emerging economies vulnerable to political shocks.

Addressing the concluding session of the two-day BRICS summit, Pezeshkian also took a swipe at Western powers over “unilateral sanctions”, saying they directly affected global food security and people's welfare.

His remarks came weeks after the US imposed fresh economic sanctions on Iran, tightening pressure on Tehran's finances amid ongoing military hostilities between the two sides.

Pezeshkian calls for more balanced global order

Pezeshkian said BRICS had evolved beyond a framework for cooperation among emerging economies and now represented growing demand for a more balanced and inclusive world in which “no centre of power has the right to determine the destiny of others”.

He said BRICS must play a greater role in building a balanced, inclusive and just international order, with resilience, cooperation and sustainability translated into practical action.

Pezeshkian said economic resilience could not be sustained without security, referring to what he described as military aggression by the US and Israel against Iran.

He said attacks on Iran's economic, energy and development infrastructure could have consequences beyond its borders, with regional and global repercussions. The Iranian people had paid a heavy price, with civilians killed and infrastructure built over decades damaged, he said.

Pezeshkian said the international community had a responsibility to protect civilians and prevent the “normalisation of attacks on civilian targets”.

Sanctions impacting food security, welfare: Pezeshkian

Thanking India, its people and Prime Minister Narendra Modi for hosting the summit, Pezeshkian said its theme, Resilience, Cooperation and Sustainability, reflected fundamental global needs at a time when the destinies of nations were increasingly interconnected.

He said the challenge before the international community was not merely to manage current crises but to build a system that strengthened nations against future crises and created a fairer world.

Pezeshkian said excessive dependence on limited financial and trade systems had made economies vulnerable to political shocks. Unilateral sanctions directly affected food security and people's welfare, he said.

He called for greater trade in national currencies and a stronger New Development Bank to improve the economic resilience of BRICS members.

Pezeshkian also highlighted Iran's geopolitical position and its energy and transit capacities, saying these could help develop trade and energy corridors among BRICS members.

Pezeshkian raises Gaza, Lebanon conflicts

Referring to Gaza and Lebanon, Pezeshkian said people in the region continued to face the consequences of “crimes and genocide”.

He called on BRICS to play a more effective role in defending national sovereignty and territorial integrity and upholding the prohibition on the use of force.

Pezeshkian said no country could tackle global challenges alone and called for transforming the capacities of the Global South into shared capabilities.

On sustainability, he said development that widened inequality or transferred present-day costs to future generations could not be sustainable.

He also raised concerns over the environmental consequences of war, saying damage to energy and industrial infrastructure could affect natural resources in addition to causing economic losses.

AI, innovation key to BRICS agenda

Pezeshkian identified knowledge and innovation as important elements of the BRICS agenda, saying artificial intelligence (AI) and emerging technologies should empower nations rather than become instruments of domination.

He reaffirmed Iran's readiness to contribute its capacities to BRICS cooperation, stressing that resilience required sustained cooperation, cooperation required justice, and sustainability was impossible without peace and security.

“Let us turn BRICS into a platform for translating these principles into practical action,” Pezeshkian said, adding that building a future in which growth, security and development were possible for all was a shared responsibility towards future generations.