BRICS partners are evaluating Iran’s move to connect with a network of national payment systems. In discussions on this topic, officials noted the inquiry and outlined possible implications for regional financial coordination.
The proposals being considered aim to link the payment infrastructures of the BRICS members, following the model of existing systems and leveraging national currencies for settlements. Officials indicated several pathways could be explored, including how to align the financial markets of the member states and to shift settlements toward domestic currencies while introducing new mutual-approval mechanisms.
A senior official from the foreign ministry elaborated that building an independent payment and settlement framework, resilient to external pressure, stands as a central pillar in advancing BRICS financial sovereignty.
Earlier reports mentioned discussions among Chinese and Russian financial institutions about potential cooperation within the Mir payment ecosystem.
In another development, Iran put forward ideas to unify the BRICS payment systems, signaling a broader agenda to streamline cross-border transactions among the group.