DUBAI, August 29. /TASS/. Iran joining the BRICS union and the Shanghai Cooperation Organization (SCO) will help in overcoming the negative consequences of Western sanctions, Iranian President Ebrahim Raisi said.

"Our membership in the global BRICS alliance and joining the regional Shanghai Cooperation Organization will definitely play the part in fighting the US sanctions," he said at a press conference in Tehran.

He noted that Iran’s economic potential will help bolster the position of both organizations on the international stage. "Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional alliances very effective," Raisi stressed. "The effect is reciprocal because all the participants of these unions, including ourselves, will benefit from Iran’s membership," he explained.

The 15th BRICS summit, hosted by one-year chairman South Africa, took place in Johannesburg on August 22-24. The current BRICS members approved the membership bids of Saudi Arabia, the United Arab Emirates (UAE), Iran, Ethiopia, Egypt and Argentina, which will become full-fledged members of the bloc on January 1, 2024. In early July, at the SCO summit, Iran’s accession to the organization was announced making it the ninth member of the alliance.