The President of Iran, Ebrahim Raisi, who is also a key member of the BRICS alliance has reportedly died from a helicopter crash that occurred in the Northwest region of the country. 

To many, this could halt the common currency goal of BRICS, however, others expect nothing to change. 

Iran’s president, Ebrahim Raisi, and Foreign Minister, Hossein Amirabdollahian, have been confirmed dead after a helicopter they were traveling with crashed in the wild northwest region of the country. It is also reported that the governor of East Azerbaijan province, and other officials and bodyguards were onboard.

Earlier, the crash location was said to be close to Jolfa, a city on the border with Azerbaijan. However, it was later reported that the crash occurred farther east near the village of Uzi. 

Could this Incident Affect the BRICS Agenda of Common Currency?

Experts believe that Iran has been one of the major proponents of the “common currency agenda” with its officials informing citizens earlier this year that BRICS could challenge the dominance of the US dollar and alleviate the financial crisis caused by the US sanctions. 

The Iranian President and Chinese President Xi Jinping were also reported to have emphasized bilateral cooperation and opposition to American unilateralism during the BRICS summit in August 2023. Iran’s position in this de-dollarization strategy could be witnessed in a recent statement by the Iranian Ambassador to Russia, Kazem Jalali, disclosing that the country has been conducting large-scale work in BRICS. According to him, the US uses the dollar to create restrictions. In this case, using national currencies in mutual settlement is a big priority. 

The creation of a new single currency within the framework of the BRICS bloc is what Russia and Iran are working on…More than 60% of bilateral trade is in rubles and rials.

Iran’s Government Would Continue Operation

To many, the death of Raisi would not stop this agenda as Iran’s vice first president is bound by the country’s constitution to take over pending a new presidential election which would be called within 50 days. According to the state media, the first Vice President Mohammad Mokhber has already started receiving calls from officials and foreign governments. As disclosed in a cabinet statement, the Iranian government would continue to operate without any form of disruption. 

We assure the loyal nation that the path of service will continue with the tireless spirit of Ayatollah Raisi.

In a recent report by Crypto News Flash, the continuous effort by the BRICS to create a shift in the global economic crisis was highlighted by Deputy Managing Director of IMF Gita Gopinath in a paper titled: “Impact of Geopolitics on International Trade and the Dollar”. 

Countries (BRICS) are reassessing their trading partners based on their economic and security concerns. Foreign investment flows are also being redirected according to geopolitical alliances. Some countries are reevaluating their heavy dependence on the dollar in their international transactions and reserves.

According to Russia’s Kremlin aide Yury Ushakov, BRICS would continue its effort to create an independent payment system based on state-of-the-art tools such as blockchain technology. 

 

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Filed under: Bitcoin - @ May 20, 2024 10:17 am