Iran is seeking deeper economic ties with BRICS as its economy faces mounting pressure from sanctions and the ongoing war with the U.S. and Israel, according to CNBC.
The New Development Bank funds infrastructure and sustainable development projects in emerging economies. Membership would give Iran access to potential financing for transportation, sanitation, digital infrastructure and urban development projects. However, the bank said it could not confirm Iran’s membership and noted that Tehran must complete the formal accession process.
Iran has struggled with restricted access to international capital, while inflation, weak growth and a falling currency have added to economic strains. President Donald Trump has previously criticized BRICS policies as “anti-American” and threatened tariffs against countries buying Iranian goods or services.
China remains Iran’s largest trading partner, with Kpler data showing it purchased more than 80% of Iran’s exported oil in 2025.
Related Tweet:
Iran to join BRICS development bank soon, central bank governor says https://t.co/dJfTzWCmnz
— The Straits Times (@straits_times) August 13, 2026
Also Read:
TIPP Staff
