Why it matters:
Given the political and economic importance of Iran's membership in the Shanghai Organization, as well as the organization's role as an important global institution that is taking steps towards a multipolar world, the Shanghai Organization can greatly contribute to achieving Iran's goals in confronting unilateralism and establishing peace in the region and the world.
The big picture:
Iranian President Masoud Pezeshkian, who arrived in China yesterday to attend the 25th Shanghai Cooperation Organization (SCO) summit, in addition to speaking at the SCO summit and SCO Plus meeting, will hold other meetings, including a meeting with Russian President Vladimir Putin.
What he is saying:
Masoud Pezeshkian: "A committee consisting of foreign ministers of member states should be formed to address various crises that threaten regional peace and security."
He proposed an idea: "Srengthening the 'Shanghai Cooperation Organization Special Accounts and Settlements' initiative as a practical mechanism to strengthen financial cooperation, to reduce the effects of sanctions."
Iranian President emphasized Iran's specific proposal for a more organized pursuit of two important necessities, namely"the necessity of peacebuilding" and "the necessity of strengthening financial cooperation to reduce the impact of unilateral sanctions.
President Pezeshkian said Iran would support President Xi's constructive views on the need for reform in global governance, which have been put forward in the form of the"Global Governance Initiative."
Key notes on Iran's proposals:
Financial Cooperation Initiative:
- Iran proposed the "Special Accounts and Settlements Initiative" to enhance financial collaboration among SCO members, focusing on three main pillars:
- Expanding settlements in national currencies to reduce reliance on the dollar
- Establishing shared digital infrastructure and utilizing central bank digital currencies for secure and rapid payments
- Creating a multilateral currency swap fund to support countries facing sanctions or liquidity crises
Peacebuilding Committee:
Geopolitical Positioning:
