"Between Sanctions and Hope: Can Iran Overcome Its Economic Crisis through BRICS?"

Recent statistics and estimates regarding the economic crisis in Iran reveal the shortcomings of the ruling regime. What was yesterday referred to as a "major crisis" is now being labeled as a "disruption." This encompasses everything from budget deficits and crises in water, electricity, and gas to the skewed balance between exports and imports, the shortage of schools, teachers, and students, as well as the migration of doctors and nurses from hospitals. These imbalances also include banking issues, income and spending gaps, a declining active workforce, brain drain, inflation, and unemployment. It seems there is nothing left but to watch the collapse and decline of the remnants of an ancient and proud civilization.

**We Need Money, Not Words!**

The head of the regime, Masoud Beizhehkyan, arrived in Kazan, Russia, with a suitcase full of demands. His aim was to secure understandings, agreements, and joint projects with BRICS member states. On October 26, the Rouydad 24 news site reported: "Beizhehkyan said, 'BRICS should not just be a club for discussions. The decisions of BRICS must have execution guarantees and take greater responsibility for funding member states.' But does BRICS currently have this capability, or does it still have a long way to go to move beyond being just a discussion club? While Iran's membership in BRICS could be an important opportunity, it does not mean that the official members and observers can assist Tehran at this critical economic and even security juncture."

Even the "Comprehensive Cooperation Agreement between Iran and Russia," which was hoped to be signed in Kazan during this trip, was postponed to a later time, leaving Beizhehkyan empty-handed upon his return to Iran.

The Minister of Economy had previously stated, "For the first time, Iran is officially participating in the BRICS summit at the leadership level, and I hope these efforts in various political, security, cultural, and public dimensions will lead to economic and financial achievements and develop Iran's economic relations with BRICS countries." (Source: Eiko Iran news site - October 24)

**Beizhehkyan's Mission: Dealing with Economic Aftershocks**

Local and international reports have highlighted the acute economic crisis in Iran. On October 25, Eghtesad News reported a study from the Atlantic Council, noting, "One of Beizhehkyan's goals for attending the BRICS summit is to gain support from member countries to bear the aftershocks of sanctions targeting the Iranian economy and the energy sector."

The report, like other independent assessments, indicates that Iran's economy is in a very precarious state, with GDP growth dropping to around 2% and inflation at 34%, posing severe economic challenges. According to local media reports, prices for bread and other basic goods such as water and housing have surged.

**Innumerable Crises of the Clerical Regime**

With power plants operating at a maximum capacity of 70% and steel exports reduced by half, the ongoing energy deficit and the electricity shortfall of 17 gigawatts have become apparent. Under these conditions, the state-owned electricity company "Tavanir" is forced to sell electricity abroad at higher prices for a few extra dollars.

Even supposed reformists now defend the "Look to the East" policy promoted by the regime's Supreme Leader Ali Khamenei. "The Minister of Economy affirmed that Iran's membership in BRICS is an opportunity to develop economic and political relations with member countries through bilateral and multilateral cooperation and improve the economic situation." (Source: Farhikhtegan newspaper - October 26)

Meanwhile, Khamenei's mafia-like factions are also rapidly working along the "Look to the East" path, stating, "Iran’s membership in BRICS and the Shanghai Cooperation Organization is an achievement that has helped solidify Iran's position in the international system and strengthen a balanced foreign relations policy." (Same source)

**Without FATF Membership and Lifting Sanctions, BRICS Remains Closed**

Despite the Iranian regime's awareness of the lack of resources and capital, it continues its war and support for terrorism, leading the international community to impose sanctions that prevent it from accessing international resources. Fereydoun Majlesi, a university professor, states, "What makes Iran's access to BRICS impossible is that banking cooperation with BRICS countries requires compliance with the Financial Action Task Force guidelines. If Iran does not accept these protocols, regular banking operations will not be established, and without this cooperation, escape from economic difficulties is almost impossible." (Source: Arman news site - October 26)

The Minister of Economy also acknowledged: "The issues of sanctions pressure and the Financial Action Task Force are preventing our banks from connecting with banks that are members of BRICS." (Source: Abrar newspaper - October 26)

by: Mahmoud Hakmanian