# Iran integration into BRICS financial systems > Live situation record from CLSTR: https://clstr.news/situations/iran-integration-into-brics-financial-systems > Updated: 2026-08-14T14:36:13.000Z. Sources: 41. Developments: 2. Iran is advancing its efforts to integrate into the economic structures of the BRICS bloc to mitigate the impact of international sanctions. Abdolnaser Hemmati, Governor of the Central Bank of Iran, announced that the process for Iran to join the New Development Bank (NDB) is nearing completion. This initiative includes technical and legal assessments to interconnect Iranian payment systems with other BRICS members and a focus on using national currencies for trade to reduce reliance on the U.S. dollar. As Iran pursues these alternative multilateral financing channels for infrastructure and development, geopolitical tensions with the United States remain high. U.S. Treasury Secretary Scott Bessent has warned that Iran could face “economic isolation like the world has never seen,” specifically noting that continued blockades of the Strait of Hormuz could impact Iranian port operations. While there have been indications of potential negotiations regarding strategic fuel trade routes, Washington continues to utilize economic leverage to address regional security and nuclear concerns. ## Timeline ### 2026-08-14: Iran seeks BRICS bank membership amid U.S. economic threats Iran is nearing membership in the BRICS New Development Bank to bypass sanctions, while the U.S. threatens unprecedented economic isolation and port blockades via the Strait of Hormuz. 3 sources. https://clstr.news/cluster/iran-seeks-brics-bank-membership-amid-us-economic-threats ### 2026-08-12: Iran to join BRICS New Development Bank soon, says central bank governor Iran's central bank governor announced that the country will soon join the BRICS New Development Bank, seeking to bypass U.S. sanctions and reduce dollar reliance through national currency trade. 40 sources. https://clstr.news/cluster/iran-to-join-brics-new-development-bank --- Cite as: Iran integration into BRICS financial systems. CLSTR, https://clstr.news/situations/iran-integration-into-brics-financial-systems