Iran Proposes Financial and Peace Initiatives at SCO Summit to Forge a Multipolar World Order
TEHRAN – At the 25th Summit of the Shanghai Cooperation Organization (SCO) in Tianjin, China, Iran’s First Vice President, Dr. Masoud Pezeshkian, delivered a significant address outlining the Islamic Republic’s vision for strengthening the bloc’s role in fostering global peace and creating a more resilient, multipolar economic system.
In his speech on Monday, Dr. Pezeshkian commended the People’s Republic of China for its stewardship of the organization and praised the SCO’s founding principles of mutual trust, mutual benefit, equality, and respect for cultural diversity.
A Call for a Dedicated Peace Mechanism
A central pillar of Iran’s address was the formal proposal to establish a new peacemaking committee within the SCO framework. Dr. Pezeshkian emphasized that in a world facing constant new crises, a proactive and operational mechanism is needed to safeguard regional security.
The proposed committee, composed of the member states’ foreign ministers, would serve as a strategic and operational arm of the organization. Its mandate would include consulting on various threats to peace, formulating practical crisis management proposals, and—crucially—providing immediate support to any member state whose sovereignty is violated.
The SCO Special Settlement and Accounts Initiative
To counter the impact of what were described as unlawful sanctions on economic interactions, Dr. Pezeshkian put forward a detailed financial cooperation proposal: the “SCO Special Settlement and Accounts Initiative.”
This ambitious initiative is structured around three key axes designed to de-dollarize trade and enhance economic resilience:
- Expanding National Currency Settlements: Promoting the use of local currencies in mutual transactions to reduce dependency on the US dollar.
- Developing Shared Digital Infrastructure: Leveraging Central Bank Digital Currencies (CBDCs) to facilitate secure and rapid payments between members.
- Establishing a Multilateral Currency Swap Fund: Creating a fund to support member states facing liquidity crises or the pressure of sanctions, thereby providing a crucial financial safety net.
Iran believes the full implementation of this initiative would not only boost the economic resilience of member states but also establish the SCO as a successful model for a fair, multipolar financial order resistant to external pressures.
Iran’s Strategic Role and Development Vision
Highlighting Iran’s unique geostrategic position, Dr. Pezeshkian reiterated the country’s readiness to act as a vital conduit for regional connectivity. He announced that the strategic port of Chabahar on the Indian Ocean will soon be linked to Iran’s nationwide rail network, creating a transformative corridor connecting China, Central Asia, and Afghanistan to global maritime routes. Investors were invited to leverage various facilities and discounts to develop logistics centers at the port.
The Islamic Republic of Iran views the SCO’s 10-year development strategy as a historic opportunity to expand cooperation and investment in infrastructure, technology, energy, and culture, and has expressed its full readiness to play an active part in achieving these shared goals.
