Iranian President Masoud Pezeshkian on Friday called on BRICS countries to create an economic system in which no country could disrupt another member’s legitimate trade by monopolising financial instruments or technology, as he pushed for greater economic resilience among the grouping.Related News: PM Modi holds talks with Iranian President Pezeshkian, reviews situation in West Asia“BRICS must create an environment in which no country can disrupt the legitimate trade of another country through monopolising a financial instrument or technology,” Pezeshkian said while addressing the BRICS Business Forum here.Pezeshkian said economic resilience required BRICS countries to diversify their trade partners, sources of financing and payment channels. He cited Iran’s experience of sanctions and what he described as recent military aggression by the United States and Israel, saying the episode had highlighted the link between economic and national security.“Whenever the trade, energy, infrastructure or financial system of a country comes under political or military pressure, its effects extend beyond that country’s borders and can affect regional stability and even the global one,” he said.Pezeshkian also called for greater use of national currencies in trade among BRICS members. He said this should be backed by mechanisms to manage currency risks and enable reciprocal settlements, arguing that the existing financial system was vulnerable to political shocks because of its concentration around a limited number of currencies.Related News: Modi sets BRICS business targets, calls for removal of trade barriersRelated News: PM Modi holds talks with Putin, to meet Pezeshkian later in the dayHe called for the BRICS New Development Bank to become the principal engine for financing infrastructure and energy projects in member countries through dedicated credit lines, local-currency financing and guarantees to attract private capital.Pezeshkian also proposed a BRICS joint reinsurance company with an initial capital of USD 10 billion to cover risks associated with major infrastructure and energy projects and boost private-sector confidence.Highlighting Iran’s energy reserves and geographical position, Pezeshkian said Tehran was ready to play an important role in BRICS energy, food and transport supply chains.“Food and energy security are two fundamental pillars of economic security and the Islamic Republic of Iran with its vast energy reserves and outstanding geographical position, is prepared to play the role of a strategic partner in BRICS energy, food and transport supply chains,” he said.He also urged BRICS to become a producer rather than merely a consumer of new technologies such as artificial intelligence, while strengthening cooperation on digital-economy standards and cybersecurity.Pezeshkian said the BRICS Business Council should evolve from a forum for dialogue into an “executive engine” of economic cooperation, with measurable targets for intra-BRICS trade, the share of national currencies in trade and the volume of private capital mobilised.He said BRICS would become a real force in the global economy when its cooperation was reflected in “contracts, factories, ports and the economic lives” of people in member countries.