Iran plans to join the New Development Bank soon. This move comes as the nation faces international sanctions and seeks alternative financial channels. Iran joined BRICS in 2024 and desires shareholder status in the NDB. The bank was established by BRICS nations to finance development projects. BRICS members aim to reduce dollar reliance through national currency transactions.

Hemmati announced that Iran was set to join the BRICS Bank in the near future, Iran's semi-official Tasnim News Agency reported.

Iran remains under sweeping US and international sanctions, and it has yet to reach a peace deal to end the current conflict with the US and Israel, giving Tehran added incentive…

Move aims to boost trade in national currencies and reduce dollar reliance