Iran to Join BRICS Bank as U.S. Pressure Mounts

Iran’s central bank chief announced Thursday that the country is set to join the BRICS New Development Bank (NDB), signaling a major step toward deepening economic ties with the bloc as tensions with Washington escalate. The move, confirmed by the bank’s governor, would give Tehran access to an alternative source of funding outside the U.S.-dominated global financial system. The NDB, created by Brazil, Russia, India, China, and South Africa, aims to finance infrastructure and sustainable development projects in emerging economies. Joining the bank is part of Iran’s broader strategy to strengthen alliances with BRICS nations and reduce the impact of ongoing U.S. sanctions. No timeline for the formal membership was provided.