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Iran backs BRICS efforts to replace dollar in international settlements — President

"We strongly support the BRICS countries in their de-dollarization efforts, which allow to revive mutual trade and investment flows," Ebrahim Raisi underscored

JOHANNESBURG, August 24. /TASS/. Iran supports the efforts of the BRICS countries aimed at replacing the dollar in international payments. President of the Islamic Republic Ebrahim Raisi said this speaking at a meeting of the BRICS summit and its partners - BRICS - Africa and the BRICS Plus Dialogue.

"Strategic cooperation between Iran and the BRICS members, especially in the areas of energy transition and trade development, is high on the community's agenda. We strongly support the BRICS countries in their de-dollarization efforts, which allow to revive mutual trade and investment flows, as well as strengthen mechanisms of settlements in national currencies," Raisi said.

According to the International Monetary Fund (IMF), as of March this year, the share of the dollar in world reserves was 58.36%. In 1999, this indicator, according to IMF statistics, reached 71%.

The 15th BRICS Summit was held on August 22-24 in Johannesburg under the chairmanship of South Africa. It became the largest meeting of heads of state and government of the Global South in recent years. The invitees included the leaders of 54 African countries. The summit participants agreed that from January 1, 2024, Argentina, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia will join the association. A new list of possible members of the association will be prepared for the next summit.

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