Iran's Opportunities within BRICS and the Geopolitical Situation in the Region
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Tehran Times
www.tehrantimes.com

Iran's Opportunities within BRICS and the Geopolitical Situation in the Region

Jam-e-Jam analyzed the multifaceted significance of BRICS for Iran. The publication noted that establishing an independent financial system within BRICS in the short term seems unrealistic, and even among member countries there are disagreements regarding the pace and form of the 'de-dollarization' process. India also emphasized that it is currently not aiming to create a common BRICS currency, focusing instead on cross-border payments and the use of national currencies.

Nevertheless, this gradual approach may prove beneficial for Iran. The more Iran's trade with regional partners is conducted through local currencies, special accounts, currency agreements, and independent payment systems, the more financial sanctions pressure can be neutralized. The main goal is to transform membership into a network of currency and banking arrangements, interconnected payment systems, use of local currencies, financing joint projects, and ultimately, creating a regional trade network resilient to sanctions—a network capable of reducing the cost and risk of Western financial restrictions for the Iranian economy.

In an article dedicated to Iran's current position facing adversaries, the publication Khorasan stated that West Asia, especially the Persian Gulf and the Strait of Hormuz, is in an extremely complex, historical, and decisive situation. A series of recent events, Iran's successes on the battlefield, the strong operational control of Iranian forces over the Strait of Hormuz, as well as the inability of the US and Israel to achieve their stated goals against Iran and the decline of America's authority in global public opinion indicate an undeniable reality: Iran has not only won in this imposed conflict so far but the distance to achieving final victory—including the withdrawal of American military bases from the region, especially in the coastal states of the Persian Gulf, and the full fulfillment of Iranian agreements over the Strait of Hormuz—is small.

The article concludes that Iran will successfully overcome this historical and decisive turning point, enter a new phase of its national history, demonstrate its power and authority, and firmly strengthen them.

Arman-e-Emrooz highlighted Pakistan's efforts to mediate between Tehran and Washington to establish peace. According to the newspaper, Pakistan seeks to create conditions that will help reduce regional tension and provide a basis for constructive dialogue. The Pakistani Minister of Defense stated that contacts between the Iranian and American sides exist, although these communications are indirect and conducted through intermediary channels. These indirect contacts indicate that despite heightened tensions, neither side has completely closed the door to diplomacy, and the possibility of advancing negotiations remains. The main task is to build mutual trust and reduce misunderstanding so that agreements ensuring regional security can be reached. De-escalation will benefit not only Iran and the United States but also the entire region and the world economy, as instability in this part of the world has cascading consequences for energy markets and international trade.

Ettelaat reported on recent Iranian attacks on American targets using missiles equipped with electro-optical guidance systems. According to the article, instead of relying on satellite systems, these missiles use cameras and optical sensors to detect and track targets. Military experts believe that the introduction of such technology into anti-ship missiles could pose a new threat to US warships, as it reduces the reaction time of defense systems and complicates target identification. However, the rise in retaliatory attacks, alongside attacks on tankers in the region, has raised concerns about safe passage through the Strait of Hormuz, through which 20% of global oil supplies pass.

Etemad covered the adoption of a resolution against Iran at the IAEA Board of Governors meeting. The newspaper wrote that Western diplomatic pressure in Vienna has intensified. The United States, the United Kingdom, France, and Germany prepared and presented their draft resolution against Iran to the Council. The resolution calls for referring the Iranian case to the UN Security Council and the UN General Assembly. Referring the case does not automatically restart UN Security Council sanctions, and any new actions will face political balancing in the Council, including the positions of China and Russia. Some analysts believe that simultaneous pressure on Iran's aviation industry, energy exports, and nuclear issue has narrowed the diplomatic space. Others argue that the expansion of US sanctions against Iran's aviation sector, coupled with rising tensions in Iran's southern waters and increased political pressure at the IAEA, demonstrates that Washington seeks to simultaneously use economic, military, and diplomatic tools against Tehran. Nevertheless, Iran's contacts with regional actors and Qatar's emphasis on ending the 'neither war nor peace' situation indicate that the path to dialogue is not entirely closed.

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Foreign Ministry states there are no plans for a BRICS common currency, continuing work to reduce dependence on the dollar
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www.aajtak.in

Foreign Ministry states there are no plans for a BRICS common currency, continuing work to reduce dependence on the dollar

The Foreign Ministry made an important statement regarding plans for a common currency of BRICS countries, emphasizing that such a proposal does not currently exist. Suchankar Dalelal, Secretary of the Foreign Ministry for Economic Relations, announced this on Saturday. He specified that discussions on using local currencies in mutual trade between member states are ongoing. The goal of these measures is to reduce transaction costs and increase the convenience of cross-border trade.

Speaking to media representatives after the 18th BRICS Summit in New Delhi, Dalelal stated: 'Currently, there are no proposals for a BRICS currency within BRICS.' This statement came as BRICS member countries discuss ways to strengthen the cross-border payment system and reduce costs in mutual trade.

Dalelal noted that discussions about settlements in local currencies between BRICS countries are not a new topic, and negotiations on this matter have been underway for some time. He stressed that payment in local currency is considered a practical solution for bilateral trade. Furthermore, the aim is not to replace the existing global payment and settlement system but to supplement it.

The Secretary added: 'We believe that payment in local currency is a practical way to reduce transaction costs in mutual trade. It is encouraged as a complement to the global payment and settlement system, which will help improve world trade between countries.'

The New Delhi declaration also mentions promoting trade and investment using the national currencies of member countries. The document specifies that the national priorities of each country will be respected, and a single system cannot be applied to all participants.

The declaration also features the work of the BRICS Payments Task Force (BPTF). This group is studying the compatibility of messaging channels and cross-border payments. It is recommended that the group continue working on a practical payment system that should be fast, inexpensive, accessible, efficient, transparent, and secure.

Dalelal reported that leading up to the 18th BRICS Summit, work had been conducted at various levels for about eight months under the chairmanship of India. During this period, over 350 meetings were organized related to various topics, ministerial meetings, working groups, business sessions, and other initiatives.

He also mentioned that the summit discussed the impact of current global conflicts and economic uncertainty. Leaders emphasized the importance of dialogue and diplomacy for the peaceful resolution of disagreements.

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