Iran's President Ebrahim Raisi told a summit of the BRICS group of nations that Tehran is determined to help member states ditch the US dollar in their economic dealings.
Raisi was delivering his speech in Johannesburg, South Africa, only a day after BRICS — currently formed by Brazil, Russia, India and China — sent out invitations to Iran, Saudi Arabia, the United Arab Emirates, Egypt, Ethiopia and Argentina to become new members as of 2024.
"Iran decisively backs up BRICS' efforts toward de-dollarization … using national currencies and strengthening the bloc's mechanisms for payment and financial interactions," Raisi said in comments aired live by Iran's state TV on Thursday.
Sanctioned by the United States and squeezed by banking restrictions, Iran has long been knocking on doors to try to remove the dollar from its foreign business and restore payments for its vital oil sales.
