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BRICS Summit in New Delhi addresses sanctions and local currency trade
At the 18th BRICS Summit in New Delhi, Iranian President Masoud Pezeshkian emphasized that the grouping was established to counter United States unilateralism and its regime of economic sanctions. Pezeshkian described Iran's economic situation as critical, citing the impact of US and Israeli military actions and financial pressures. He called for the development of alternative trade mechanisms and stronger multilateralism to protect national sovereignty.
Indian officials, including Ministry of External Affairs Secretary Sudhakar Dalela, clarified that while there is currently no proposal for a common BRICS currency, members are actively discussing the increased use of national currencies for bilateral trade to reduce transaction costs. The summit, held under India's chairmanship, resulted in the adoption of the New Delhi Declaration, which produced 150 practical outcomes across four pillars, including food and health security.
Prime Minister Narendra Modi met with President Pezeshkian to discuss bilateral relations and regional stability in West Asia. Modi reiterated India's commitment to resolving issues through dialogue and diplomacy, while also stressing the importance of safeguarding freedom of navigation and the safety of seafarers. Meanwhile, reports indicate Iran is utilizing cryptocurrencies to facilitate cross-border transactions to bypass US financial sanctions.
Entities
Abbas Araghchi · BRICS · Droupadi Murmu · India · Iran · Masoud Pezeshkian · Narendra Modi · New Development Bank · Petr Sizov · Russian Embassy in India
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] BRICS members share a commitment to strengthening national currencies and conducting trade through them. www.indiandefensenews.in
- [○ 1 SOURCE] True multilateralism requires the UN Charter to protect nations against the unlawful use of force. wanaen.com
- [● 6 SOURCES] Prime Minister Modi advocated for the safeguarding of freedom of navigation and the safety of seafarers. www.orissapost.com · tripurachronicle.in · udaipurkiran.com · samacharnama.com · www.swatantraawaz.com · +1 more
- [● 4 SOURCES] BRICS was created to counter United States unilateral sanctions and totalitarianism. desitalkchicago.com · www.latestly.com · abceconomia.co · newsable.asianetnews.com
- [○ 1 SOURCE] Iran is prepared to act as a strategic partner for BRICS in energy, food, and transport supply chains. www.telesurenglish.net
- [● 5 SOURCES] Prime Minister Modi emphasized that regional issues in West Asia must be resolved through dialogue and diplomacy. www.orissapost.com · tripurachronicle.in · udaipurkiran.com · samacharnama.com · www.swatantraawaz.com
- [○ 1 SOURCE] Iranian President Masoud Pezeshkian described Iran's economic situation as critical and dangerous due to US sanctions and military aggression. abceconomia.co
- [● 3 SOURCES] India's BRICS chairmanship included over 350 meetings across more than 30 cities. bpmoney.com.br · www.ibtimes.co.in · www.socialnews.xyz
- [○ 1 SOURCE] The BRICS declaration encourages the New Development Bank to expand financing in local currencies. www.news18.com
- [● 3 SOURCES] Iran is utilizing cryptocurrencies to facilitate cross-border transactions and bypass US financial sanctions. www.elnoticierodigital.com · www.diarioestrategia.cl · www.deia.eus
- [● 5 SOURCES] BRICS members are discussing the increased use of national currencies for bilateral trade to reduce costs. www.diarioestrategia.cl · www.ibtimes.co.in · www.socialnews.xyz · bpmoney.com.br · www.indiandefensenews.in
- [● 2 SOURCES] The BRICS summit produced 150 practical outcomes across four pillars. www.ibtimes.co.in · www.socialnews.xyz