Iran is seeking membership in the New Development Bank, the BRICS-created lender, with Central Bank of Iran Governor Abdolnasser Hemmati saying Tehran will soon join as it looks to deepen financial ties with the bloc under mounting economic pressure from its war with the U.S. and Israel. The bank did not confirm Iran's entry and said membership remains subject to its accession process, even as Hemmati, in India ahead of next month's BRICS Summit, said Iran wants bilateral and trilateral monetary cooperation with member states. If approved, Iran could seek financing for transport, sanitation, digital infrastructure and urban development projects through a bank set up to fund infrastructure and sustainable development in emerging economies. Iran joined the expanded BRICS grouping in 2024, while longstanding sanctions and new U.S. pressure, including President Donald Trump's threat of 25% tariffs on countries buying Iranian goods or services, have added to Tehran's push for alternatives to Western capital markets. China remains Iran's largest trading partner and bought more than 80% of its shipped oil in 2025, according to Kpler data.