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Iran to join the BRICS New Development Bank as its war with the United States drags on

8/14/2026

Iran is moving toward full membership in the BRICS financial network.

Iran's central bank chief said Thursday that the country is set to join the New Development Bank, the multilateral lending institution built by and for the five BRICS economies: Brazil, Russia, India, China, and South Africa.

The move fits within a broader Iranian push to ramp up economic alliances with BRICS members while Tehran's war with the United States drags on.

What the New Development Bank is A multilateral lender, in plain terms, is a bank owned and governed by a group of countries together. The New Development Bank is that kind of institution.