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What would BRICS Bank membership mean for Iran's reeling economy?

News Snapshot:

Iranian Central Bank Governor Abdolnasser Hemmati said the country will soon join the BRICS development bank as he traveled to India this week for a meeting of the group’s finance leaders.The news arrives as Iran is signaling that it wants a bigger financial lifeline from the BRICS bloc of emerging nations as the Islamic Republic’s wartime economy comes under mounting pressure from the war with the United States. What happened: Hemmati said on Wednesday that Iran would soon become a member of the New Development Bank, which is often referred to as the BRICS Bank. The bank itself has not confirmed…

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