Iran has recently proposed the establishment of an insurance company worth $10 billion within the framework of the BRICS group. This proposal follows Iran's efforts to strengthen economic relations with the member countries of this group and reduce dependence on foreign currencies.
Transformation in Infrastructure Investment
Iran's President, Masoud Pezeshkian, clearly emphasized that the BRICS Bank should take steps to increase investment in Iran's infrastructure. He pointed to Iran's high potential in economic and natural fields and called for more cooperation in various areas including energy, transportation, and technology.
This advancement in Iran's proposals to the BRICS group demonstrates Tehran's serious determination to strengthen economic ties with non-Western countries. This action can be seen as an effective strategy to counter international sanctions and diversify Iran's financial resources.
Trade in Local Currencies
Pezeshkian also referred to the necessity of facilitating trade using local currencies, stating: "This can help reduce dependence on the dollar and other foreign currencies and create greater stability in our international trade." These remarks are particularly significant in the current situation where sanctions and economic pressures on Iran have increased.
Overall, Iran's proposal to create an insurance company within BRICS and the emphasis on using local currencies indicate a shift in the country's economic policies. This approach could be considered a turning point in Iran's economic history, as efforts are made to capitalize on new opportunities in the international arena.
