Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Netanyahu: If Lebanese Army takes steps to disarm Hezbollah, Israel will engage in reciprocal measures, including phased reduction of Israeli military presence in Lebanon
Al Mayadeen's correspondent: Photojournalist Houssam Al-Masri martyred, reporters Hatem Omar, Mohammad Ashraf Salameh injured in Israeli strike on Nasser Medical Complex.
Israeli media: Intense US efforts are being made to resolve differences, such as the issue of the Israeli presence on Mount Hermon and in southern Syria
Israeli media: The security agreement means amending the disengagement agreement, which will also address the Druze issue
Israeli media: Attempts to reach a security agreement between 'Israel' and Syria were among the topics discussed at the Paris meeting
Israeli media: Sheikh Muwaffaq Tarif rejected a US proposal to join the recent tripartite meeting between Tom Barrack, al-Shaibani, and Dermer
Saba News Agency: Two martyred, five injured in a preliminary toll of the Israeli aggression on the Yemeni Oil Company station on Al-Sitteen Street in Sanaa
Senior Yemeni military source to Al Mayadeen: We observed a state of confusion among the enemy's aircraft squadron after Yemeni air defenses intercepted the attack
Senior Yemeni military source to Al Mayadeen: The Yemeni air defense forces succeeded in neutralizing a squadron of enemy aircraft and prevented airstrikes on some governorates
Senior Yemeni military source to Al Mayadeen: Our air defenses and missile forces forced a formation of enemy aircraft to flee the airspace

Iran's inclusion in BRICS expected to enhance financial exchanges

  • By Al Mayadeen English
  • Source: News Websites
  • 26 Aug 2023 14:10
3 Min Read

Iran's Deputy Foreign Minister for Economic Affairs Mehdi Safari highlights Tehran's favorable relations with existing BRICS members and the potential expansion of economic collaboration.

  • x
  • Iran's Deputy Foreign Minister for Economic Affairs, Mehdi Safari speaking at a news conference on November 15, 2022. (Iran Chamber of Commerce, Industries, Mines and Agriculture.)
    Iran's Deputy Foreign Minister for Economic Affairs, Mehdi Safari, speaking at a news conference on November 15, 2022 (Iran Chamber of Commerce, Industries, Mines, and Agriculture)

Iran's membership in the BRICS bloc, which includes Brazil, Russia, India, China, and South Africa, offers a chance to fortify trade connections and financial engagements among these countries, as indicated by Iran's Deputy Foreign Minister for Economic Affairs, Mehdi Safari.

Safari highlighted Iran's favorable relations with existing BRICS members and the potential expansion of economic collaboration.

“We enjoy very good relations with the five member states of BRICS, namely Brazil, Russia, India, China, and South Africa, and can expand trade and economic cooperation within its framework,” he said.

Dilma Rousseff, President of the New Development Bank (NDB), is expected to visit Tehran to discuss Iran's participation as a new BRICS member and its contribution to funding projects, a move seen as advantageous for Iran's trade and economic prosperity.

BRICS, a group of emerging economies, has gained significance in Iran's foreign policy due to its global economic impact. The recent announcement by South African President Cyril Ramaphosa, during the 15th BRICS Summit, of Iran's inclusion as a new member effective January 1, 2024, is noteworthy. Despite US financial sanctions, BRICS has devised approaches to offer loans and services to members, potentially mitigating the effects of these sanctions.

Related News

Malaysia warns 100,000 e-jobs at risk due to US tariffs

EU military spending hits critical economic limit, Russia warns

The current total percentage of the #GDP of BRICS member countries is 31.5% of global GDP. pic.twitter.com/w1N2NuANee

— Al Mayadeen English (@MayadeenEnglish) August 24, 2023

Iran's potential membership in BRICS is expected to reinforce multilateralism, amplify its political and economic sway, and contribute to reducing unilateralism, as per Safari.

“Iran’s membership in the BRICS will promote multilateralism and strengthen Iran’s political, economic and trade power and will also weaken unilateralism,” Safari said.

Iran's contributions to scientific advancement, energy, and the establishment of regional corridors connecting various directions via Tehran are also deemed essential to BRICS partners. The consortium collectively represents a significant portion of the world's population and GDP, serving as a counterweight to the G-7, a prominent US-led political assembly.

Safari remarks come shortly after a draft of the final document from the ongoing BRICS summit in Johannesburg on August 22-24 indicates that Argentina, Iran, Saudi Arabia, Egypt, and the UAE are set to join the existing BRICS grouping, according to a report by the Brazilian news portal UOL.

Read next: The BRICS, countering Western centuries-long hegemony

  • economy
  • BRICS
  • Mehdi Safari
  • Iran

Most Read

Tom Artiom Alexandrovich, executive director of the defense division of the Israeli National Cyber Directorate, undated (Social media)

Israeli-born US prosecutor drops Israeli officer child sex crime

  • Politics
  • 19 Aug 2025
Displaced Palestinians walk through a makeshift camp along the beach in Gaza City, Sunday, Aug. 10, 2025 (AP)

Hamas, other factions accept Egypt-Qatar ceasefire proposal: Exclusive

  • Politics
  • 18 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025
Almost instantly after the Helsinki Accords were signed, organisations sprouted to document purported violations, whose findings were fed to overseas embassies for international amplification. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

How ‘Human Rights’ became a Western weapon

  • Opinion
  • 23 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli Prime Minister Benjamin Netanyahu speaks during a press conference at the Prime minister's office in al-Quds, Occupied Palestine, Sunday, Aug. 10, 2025 (AP)
Politics

Netanyahu deliberately derailing truce with Gaza occupation: Hamas

Irish President Michael Higgins arrives to deliver his speech during a 42nd World Food Day celebration at FAO headquarters in Rome, on Oct. 16, 2023. (AP Photo/Alessandra Tarantino)
Politics

Irish president renews call for UN military intervention in Gaza

US Ambassador to Turkey and Special Envoy to Syria Tom Barrack speaks during an interview with The Associated Press at the US Embassy in Aukar, northern suburb of Beirut, Lebanon, Monday, July 21, 2025 (AP)
Politics

US envoy, Netanyahu discuss restraining attacks on Lebanon, withdrawal

Smoke billows following Israeli airstrikes in multiple areas in Sanaa, Yemen, Sunday, Aug. 24, 2025 (AP)
Politics

Ansar Allah vow sustained Gaza support despite Israeli strikes

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS