Is Iran helping create a BRICS currency to finally ditch the US dollar? The possibility is gaining traction, fueled by a shared desire among BRICS nations to reduce dependence on the greenback. As part of the BRICS bloc, Iran and Russia are now making strides to reduce their reliance on the US dollar due to the heavy sanctions imposed by Western countries. Specifically, Iran has recently stated its desire to help create a BRICS currency to ditch the US dollar.

This potential BRICS currency is being discussed as a way to facilitate trade and investment among member nations without the influence of the US dollar. Such a project has been in the works throughout 2025, indicating a serious commitment to finding an alternative financial system. The move is largely motivated by the desire of countries like Iran and Russia to circumvent sanctions and gain greater economic autonomy.

What role is Iran playing in this initiative? Iran's proposal to link the payment systems of BRICS member countries would entail common settlements through ATM withdrawals using the member countries' banks. This suggests a strategy focused on creating a user-friendly and accessible system for cross-border transactions. The development of a BRICS currency, with Iran's support, represents a significant step towards a potential shift in the global financial landscape, challenging the dominance of the US dollar and paving the way for a more multipolar economic order. Stay updated on the latest developments surrounding the BRICS currency and its potential impact on the global economy.