Iran to Join BRICS New Development Bank
Iran's central bank governor, Abdolnaser Hemmati, announced that Iran will soon join the New Development Bank (NDB), the lender established by the BRICS group. The announcement was made ahead of a BRICS finance meeting in India. This move signifies Iran's continued efforts to integrate into non-Western financial institutions and strengthen economic ties with major emerging economies like China and Russia amid ongoing international sanctions.
Date: August 12, 2026
Location: Tehran, Iran
Conflict: US-Iran Conflict
Category: diplomacy
Severity: LOW