Iran moves to join BRICS bank as war with US drags on

Iran's central bank governor said Thursday that the country has completed the process to join the BRICS New Development Bank, the lending arm set up by Brazil, Russia, India, China and South Africa. The move comes as Tehran remains largely cut off from Western financial institutions amid its ongoing war with the United States.

Officials say membership will give Iran access to new lines of credit and deepen commercial ties with Russia and China, both of which have expanded trade with Tehran since the conflict began. The step is seen as the latest in a broader strategy to blunt the impact of Western sanctions and isolation.

Analysts caution that the funding Iran can realistically draw from the BRICS bank may be modest, but say the symbolic value is significant, reinforcing Tehran's tilt toward non-Western alliances as the war with Washington continues to reshape regional economics.