Russia and Iran Advocate for  Unified Currency at Kazan Forum

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Russia and Iran Advocate for Unified Currency at Kazan Forum

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Tehran: During the “Russia-Islamic World: Kazan Forum,” Iranian diplomat Jalali highlighted the active involvement of Iran in BRICS activities under Russia’s leadership. He emphasized the shared vision of both nations to introduce a singular currency within the association, as reported by TASS.

Jalali stressed Iran’s robust contribution to BRICS as a nascent member, affirming the pursuit of a unified currency as a focal point of Russia-Iran collaboration.

“The endeavor to forge a new unified currency within BRICS encapsulates the shared vision and concerted efforts of Russia and Iran,” Jalali elaborated.

He underscored the pervasive influence of the U.S. dollar in imposing restrictions and advocated for the adoption of national currencies in bilateral transactions. Jalali revealed that over 60% of bilateral trade between Russia and Iran is conducted in rubles and rials, highlighting the strength of their economic ties.

Jalali characterized the current phase of Russia-Iran relations as a “golden stage,” accentuating the depth and vitality of their partnership.

The ongoing 15th edition of the international economic forum “Russia-Islamic World: Kazan Forum 2024” aims to fortify trade, economic, scientific, technical, social, and cultural bonds between Russian regions and countries within the Organization of Islamic Cooperation (OIC). Additionally, the forum seeks to advance the development of Islamic financial institutions within Russia.

Established in 2009, the BRICS group, comprising Brazil, Russia, India, China, and South Africa, has emerged as a significant force shaping global economic discussions.