New Delhi: BRICS must expand trade in national currencies and work towards an inclusive global economic framework as excessive dependence on existing financial and trade systems has made emerging economies vulnerable to political shocks, Iranian President Masoud Pezeshkian said Sunday.
In an address at the BRICS summit, Pezeshkian, taking a swipe at Western powers, was also critical of “unilateral sanctions”, saying they are directly impacting global food security and people’s welfare.
The Iranian leader’s remarks came weeks after the US imposed new economic sanctions on Iran, tightening the squeeze on Tehran’s finances amid ongoing military hostilities between the two sides.
The BRICS must play a greater role in building a more balanced, inclusive and just international order, the Iranian president said, stressing that resilience, cooperation and sustainability should be translated into practical action.
The Iranian president said economic resilience could not be sustained without security, referring to what he described as the military aggression by the United States and Israel against Iran.
The attacks on Iran’s economic, energy and development infrastructure could have consequences beyond national borders, creating regional and global repercussions, he said.
Pezeshkian said the Iranian people had paid a heavy price, with civilians killed and infrastructure built over decades damaged.
The Iranian president said the international community has a responsibility to protect civilians and prevent the “normalisation of attacks on civilian targets”.
Pezeshkian thanked India, its people and Prime Minister Narendra Modi for hosting the summit, saying its theme — “Resilience, Cooperation and Sustainability” — reflected the fundamental global needs at a time when the destinies of nations are increasingly interconnected.
He said the international community’s challenge was not merely to manage current crises, but to build a system that strengthens nations against future crises and creates a fairer world.
Delving into pressing economic challenges, Pezeshkian said excessive dependence on limited financial and trade systems had made economies vulnerable to political shocks.
Unilateral sanctions directly affected food security and people’s welfare, he said, pitching for expanding trade in national currencies and strengthening the New Development Bank to enhance the economic resilience of BRICS members.
On the situation in Gaza and Lebanon, Pezeshkian said the people of the region continued to face the consequences of “crimes and genocide”. He called on BRICS to play a more effective role in defending national sovereignty, territorial integrity and the prohibition of the use of force.
Elaborating on global challenges, Pezeshkian said no country could address them alone and called for transforming the capacities of the Global South into shared capabilities.
He highlighted Iran’s geopolitical position and energy and transit capacities, saying these could contribute to the development of trade and energy corridors among BRICS members.
On sustainability, he warned that development that increases inequality or transfers today’s costs to future generations cannot be sustainable.
The Iranian president also flagged concerns over the environmental consequences of war, saying damage to energy and industrial infrastructure can affect natural resources beyond economic losses.
Pezeshkian identified knowledge and innovation as key elements of the BRICS agenda, stressing that artificial intelligence and emerging technologies should serve as tools for empowering nations rather than instruments of domination.