Tehran (IP) – Government spokesperson Fatemeh Mohajerani, in a press briefing on Tuesday, stated that BRICS is creating a platform to enhance exchange capacities and boost the economic, political, and scientific power of its member states.

Iran PressIran news: "The BRICS Pay platform has been designed and is currently in the implementation phase, though it requires some time to fully launch," Mohajerani noted. She highlighted that Iran's strategic focus is on de-escalation, emphasizing that joining alliances like BRICS aligns with the country’s goal of reducing tensions.

The BRICS bloc, which includes Russia, China, India, Brazil, South Africa, and recent members Iran, Saudi Arabia, the UAE, Egypt, and Ethiopia, recently unveiled the BRICS Pay platform. Among its benefits are reducing dependency on the U.S. dollar, facilitating trade among member countries, and alleviating the impact of Western sanctions. 

With BRICS Pay, account holders will be able to conduct commercial transactions seamlessly across member nations, offering an alternative to traditional trade mechanisms and a potential shift in global economic dynamics.

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