Iran to Join BRICS New Development Bank
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The move is aimed at seeking bilateral and multilateral currency cooperation with BRICS members.The impending accession was announced by Iran’s Central Bank Governor Abdolnaser Hemmati, who added the NDB is «the most important result» of BRICS cooperationThe bloc now includes 10 members—Brazil, Russia, India, China, South Africa, Egypt, Iran, the UAE, Indonesia, and Ethiopia—with the NDB as its flagship financial institutionIran, hit by massive restrictions for years, regularly pushes for independent and resilient financial mechanisms to counter Western sanctionsIran has been member of BRICS since 2024 but wasn’t part of the New Development Bank. Joining the body will give Iran a sanctions-proof financial lifeline—and further cements BRICS as the core of the emerging multipolar economic order.
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