In his speech at the BRICS Economic Summit of Heads of State in New Delhi on Friday, Pezeshkian said that the use of national currencies must come with the creation of necessary mechanisms for managing currency risk and mutual settlement, as the current financial system is vulnerable to political shocks due to its focus on a limited number of currencies.
Pointing to the US and Israeli regime’s war against Iran, he said that the aggression once again revealed that economic security is inseparable from national and regional security and could affect regional stability and even the global economy.
Pezeshkian further proposed the creation of a joint BRICS insurance company with an initial capital of $10 billion to cover the risks of major infrastructure and energy projects.
Iran, with its huge energy reserves and unique geographical position, is ready to play the role of a strategic partner in BRICS energy, food, and transportation supply chains, the president added.
Prezeshkian reiterated that Iran is ready to cooperate with all BRICS members to build a more open, resilient, and equitable economy.
