‘Economic pressures on Iran in far more dangerous phase’: Pezeshkian accuses US, Israel of ‘active aggression’ | World News

Iranian President Masoud Pezeshkian said on Friday that economic security cannot be separated from national and regional security as he talked about ‘extensive’ US sanctions against Iran. He was speaking at Leaders' Session of BRICS Business Forum, on Friday. Pezeshkian said the ‘pressures’ against Iran have gone up in the recent months, as he blamed the US and Israel for aggression.Also read: ‘Secure sea lanes, seafarers’: PM Modi’s navigation safety message to BRICS leaders“Iran has faced extensive sanctions over the past years. However, in recent months, these pressures have entered a far more dangerous phase as a result of the military active aggression of the US and the Israeli regime against Iran,” he said. Track live updates on BRICS summit“This active aggression, in addition to human and material losses, once again revealed an important reality - economic security cannot be separated from national and regional security. Whenever the trade, energy, and infrastructure or financial system of country comes under political or military pressure, its effects extend beyond that country's borders and can affect regional stability and even the global one,” he said. Also read: Inside Modi-Putin meet: PM Modi nudges Russia to end Ukraine War; flags West Asia conflict, seafarer safety The Iranian leader also noted that the people of Iran won't surrender as he talked about its war with US that has been going on since February this year. Pezeshkian landed in New Delhi, India on Friday to participate in the 18th BRICS summit being held on September 12 and 13.Pezeshkian calls for local currency in BRICS tradeThe Iranian President also called for a stronger shift toward local currencies in BRICS trade, while pitching Iran's geography, energy resources and transport links as a strategic bridge for the bloc's economic connectivity. Pezeshkian said BRICS must move beyond its economic potential and build a more integrated network of trade, investment and joint financing.He argued that greater use of national currencies, backed by mechanisms to manage currency risks and reciprocal settlements, would make intra-BRICS trade less vulnerable to political shocks.Also read: Putin takes a dig at 'so-called' G7, stresses BRICS nations' 40% share of world GDPPezeshkian also positioned Iran as a potential link in BRICS energy, food and transport supply chains, citing its geographical location and energy reserves. He said the current financial system is vulnerable to political shocks due to its concentration on a limited number of currencies."One of the most important steps is to expand the use of national currencies in trade among the members," Pezeshkian said at the BRICS Business Forum.