BRICS Currency Terminates US Dollar: What next?

Iran and Russia are forging ahead with plans to create a unified currency for the BRICS nations, a groundbreaking initiative announced by Iranian Ambassador to Russia, Kazem Jalali, during the “Russia - Islamic World: KazanForum“ in May 2024. Jalali passionately emphasized Iran’s unwavering commitment to this strategic move, which seeks to diminish dependence on the US dollar and foster robust economic cooperation among BRICS countries. The KazanForum, held from May 14-19, 2024, served as a crucial platform for discussing this ambitious project. Iran’s active participation in BRICS aligns with its broader objectives of mitigating the effects of US sanctions and strengthening economic ties with key global players like China and Russia. This initiative is a significant component of a larger effort to develop a blockchain-based digital currency payment system, designed to ensure more secure and efficient cross-border transactions within the BRICS framework.