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Iran set to join BRICS Bank
Iran is preparing to join the BRICS Bank, established in 2006 and currently comprising countries such as Brazil, Russia, India, and China, in addition to South Africa and other nations. The Iranian government stated that Iran will become a member of the bank soon, after completing the necessary procedures. This move could provide Iran with access to funding for infrastructure and sustainable development projects, especially amid the sanctions imposed on its economy and the gap created by the ongoing conflict with the United States and Israel. Iran’s membership in the bank will open pathways to enhance monetary cooperation and improve its economic relations with member countries, although the bank has not yet officially confirmed this accession.
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