Iran is actively participating in the efforts organised under of Russia's chairmanship in BRICS, and the two countries are working to create a single currency for the bloc, Iranian Ambassador to Russia Kazem Jalali said at a press conference during "Russia - Islamic World: KazanForum."

The ambassador noted that Iran, as a new member of the alliance, is conducting large-scale work in BRICS.

"The creation of a new single currency within the framework of the BRICS bloc is what Russia and Iran are working on," the diplomat said.

The diplomat pointed out that the United States uses the dollar to create restrictions, and therefore the use of national currencies in mutual settlements is on the agenda.

"More than 60% of bilateral trade is in rubles and rials," he said and added that relations between Russia and Iran are now at the "golden stage."

The 15th International Economic Forum "Russia - Islamic World: KazanForum 2024" is being held on 14-19 May in Kazan, Russia. This year's keynote is "Trust and Cooperation." The main goal of the forum is to strengthen trade and economic, scientific, technical, social and cultural ties between Russian regions and the countries of the Organization of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.