Iran expresses willingness to support BRICS unified currency, Trump warns: imposing 100% tariff if dared to go for dollarization.

Iran has stated that if the BRICS (Brazil, Russia, India, China, South Africa) reach consensus and are willing to support a unified coin to reduce reliance on the US dollar and strengthen regional economic cooperation. However, Trump has previously threatened to impose 100% tariffs on countries involved in the BRICS coin project. According to Russian media TASS, Fatemeh Mohajerani, the spokesperson for the Iranian government, stated that Iran would support a unified coin if the BRICS countries reach consensus. Despite the overwhelming influence of the US dollar as the main reserve currency, countries have been initiating a wave of 'de-dollarization' due to factors such as the US-China rivalry, Russia's military intervention in Ukraine and subsequent sanctions, and the impact of the US Federal Reserve's interest rate cycles on the global capital market. The BRICS countries are supporting the establishment of a common cross-border payment system. However, the unified coin project is still in the early stages of discussion and has not reached a concrete consensus. It is more likely that the focus of recent discussions will be on the proposal made by Russian President Putin at the 2024 BRICS Summit in October last year to establish a cross-border payment system led by Russia. This would help the BRICS countries bypass the US-dominated global financial system for international trade. The proposal has also received verbal support from other countries. Elvira Nabiullina, the President of the Central Bank of Russia, revealed last year that financial institutions from 159 countries have access to Russia's financial messaging system (SPFS), which is seen as an alternative to SWIFT. The BRICS countries are actively promoting financial independence. Brazilian President Lula stated that it is time for the BRICS countries to create an 'alternative payment method' and that the New Development Bank (NDB) will replace the Western-dominated Bretton Woods institutions, including the International Monetary Fund (IMF) and the World Bank. However, the US will not stand by and let this happen. Trump has previously threatened that if the BRICS countries create a new coin or reject the US dollar, the US will impose 100% tariffs on goods from those countries. The BRICS countries are attempting to break free from the US dollar, and we will not stand idly by. These countries must commit to not creating new BRICS coins or supporting other coins to replace the dollar, otherwise they will face 100% tariffs and should be prepared to lose the US market. The plan for a unified BRICS coin has sparked lively discussions in the market and community. Supporters believe that this will change the global trade landscape, bring new investment opportunities to emerging markets, and encourage more countries to seek financial alternatives to the US dollar. Opponents believe that in the short term, the US dollar will still be difficult to replace, as it remains the main settlement currency in global trade. The stability and liquidity of the BRICS coin remain to be tested. Some also question whether the US can truly prevent the financial independence of the BRICS countries through threats and tariffs, or if it will instead accelerate the development of a multipolar global financial system. The BRICS countries, initially consisting of Brazil, Russia, India, and China, with South Africa joining in 2010, officially formed the 'BRICS Five'. In August 2023, the BRICS countries announced their expansion, accepting six new countries including Argentina, Egypt, and Ethiopia, and it will take effect in January 2024. As the US-China confrontation and the Russia-Ukraine conflict led to sanctions, and the impact of the US Federal Reserve's interest rate hikes on the international market, more and more countries are seeking de-dollarization, and the BRICS countries are at the forefront of this movement. If the unified BRICS coin becomes a reality, it will bring significant changes to the global financial order, and whether the US can continue to maintain the dominance of the US dollar is worth continued attention. Related reports: Forbes 2025 prediction: G7 or BRICS countries will establish BTC reserves, significant rise in BTCFi, doubling of Stable Coin Market Cap... Trump warns: 100% tariffs for BRICS countries daring to 'de-dollarize'! From de-dollarization to cryptocurrency? Putin temporarily postpones 'unified BRICS coin': Investments can be settled using digital coins. (Iran expresses willingness to support a unified BRICS coin, Trump warns: 100% tariffs for daring to de-dollarize) This article was first published on BlockTempo, the most influential blockchain news media on the Move.