Western Financial Systems Pose Threat to All Countries, Says Pezeshkian

Western financial systems pose a threat to all countries, if not today, then in the future. This statement was made by Iranian President Masoud Pezeshkian during the expanded session of the 16th BRICS summit taking place in Kazan.

He noted that BRICS countries strive to create a new world order that is fairer and more secure. “The unipolar era is nearing its end,” emphasized the Iranian president.

According to Pezeshkian, BRICS has already established itself as an alternative path for development, and with the inclusion of new countries, the organization now encompasses a significant portion of developing nations and new markets. “In this regard, the expectations for making more ambitious decisions are growing,” said Pezeshkian.

In his opinion, efforts should continue to reduce the role of the US dollar in the global economy. He proposed creating a unified monetary system for BRICS and developing an electronic platform to facilitate mutual trade within the organization.

“We must not rely on Western financial systems; this is a major threat to all countries, if not today, then tomorrow,” emphasized Pezeshkian. He added that Tehran is ready to take steps to participate in the reform of the global economic structure and to create alternative opportunities for Global South countries.

According to the Iranian president, every country should view the development of other BRICS member states as its own progress by combining healthy competition with cooperation.