TEHRAN – Iran's Ambassador to Moscow, Kazem Jalali, has unveiled a collaboration between Iran and Russia aimed at establishing a unified currency for the BRICS association, marking a significant stride in their bilateral relations.

Speaking at a press conference during the "Russia-Islamic World: Kazan Forum," Jalali highlighted Iran's active involvement in BRICS activities under Russia's leadership. He emphasized that both nations are fervently engaged in efforts to introduce a singular currency within the association, as reported by TASS.

Jalali underscored Iran's robust contribution as a nascent member of BRICS, affirming that the pursuit of a unified currency stands at the forefront of Russia-Iran collaboration.

"The endeavor to forge a new unified currency within the framework of BRICS encapsulates the shared vision and concerted efforts of Russia and Iran," the diplomat elaborated.

He pointed out the pervasive influence of the U.S. dollar in imposing restrictions, advocating for the adoption of national currencies in bilateral transactions. Jalali revealed that over 60% of bilateral trade between Russia and Iran is conducted in rubles and rials, underscoring the robustness of their economic ties.

Characterizing the current phase of Russia-Iran relations as a "golden stage," Jalali accentuated the depth and vitality of their partnership.

The 15th edition of the international economic forum "Russia-Islamic World: Kazan Forum 2024" is currently underway from May 14 to May 19 in Kazan. 

Themed "Trust and Cooperation," this year's forum aims to fortify trade, economic, scientific, technical, social, and cultural bonds between Russian regions and countries within the Organization of Islamic Cooperation (OIC). Additionally, the forum seeks to advance the development of Islamic financial institutions within Russia.

The BRICS group, comprised of Brazil, Russia, India, China, and South Africa, established in 2009, has emerged as a significant force shaping global economic discussions.