Economy Ministers of the BRICS countries are in the final stages of completing the de-dollarisation programme – Iran’s Foriegn Minister says

BRICS nations (Brazil, Russia, India, China, and South Africa) are actively working towards de-dollarization. This move could potentially shake up the global financial landscape and reduce the dominance of the US dollar in international trade.

However, as with any major change, there are bound to be challenges and hurdles to overcome. The BRICS countries will need to establish a robust financial infrastructure and gain widespread acceptance for their new currency.

It’s worth noting that de-dollarization is not a new concept, and many countries have attempted to reduce their reliance on the US dollar in the past. However, the BRICS nations have the advantage of representing a significant portion of the global population and economy, which could give their efforts more weight.

Iran’s involvement, looks likely that they see this as an opportunity to strengthen their economic ties with the BRICS countries and reduce their dependence on the US dollar. Given the current geopolitical climate, it’s not surprising that Iran would be interested in diversifying its financial relationships.

Overall, while the de-dollarization program is still in its final stages, it’s a development worth keeping an eye on. The outcome could have far-reaching implications for the global economy and the balance of power between nations.