WANA (Nov 18) – Iran’s First Vice President Mohammad Reza Aref condemned recent attacks on the country’s peaceful nuclear facilities, describing them as a “gross violation of international law,” while proposing the establishment of a joint cryptocurrency for member states of the Shanghai Cooperation Organization (SCO).

 

Speaking on Tuesday at the 24th Meeting of the SCO Council of Heads of Government, Aref strongly criticized what he called the “aggressive military actions by the Israeli regime, supported by the United States,” and highlighted the “killing of civilians, academics, women and children,” as well as attacks on off-duty military personnel, as clear breaches of the UN Charter and international legal norms.

 

Joint Cryptocurrency Proposal for SCO

Aref urged the development of a blockchain- and AI-based digital currency to enhance secure financial exchanges among SCO members.

According to him, such an initiative would:

 

  • facilitate economic transactions across the bloc,
  • improve transparency and trust, and
  • strengthen regional integration in line with sustainable development goals.

 

He also emphasized the need for a more efficient interbank messaging system and said Iran is ready to expand cooperation in the fields of fintech, banking connectivity, and cross-border financial settlements.

 

Support for SCO Development Bank

The First Vice President reiterated Iran’s full support for establishing a SCO Development Bank to finance infrastructure and joint economic projects while reducing reliance on what he called “unfair global financial systems.”

He also called for accelerating the admission of the Iranian-designated bank into the SCO Interbank Consortium.

 

Call for Stronger Economic Integration

Aref stated that the future of global politics will be shaped by regional alliances, stressing that the SCO must move beyond dialogue and focus on operational implementation of major technological and economic initiatives so that “member nations feel tangible benefits in their daily lives.”

 

He called for enhanced:

  • intra-regional trade,
  • transportation and transit corridors, and
  • regional value chains.

 

Iran, he added, stands ready to develop secure transport routes, including the International North–South Transport Corridor and East–West trade routes, highlighting the growing role of Chabahar Port and the Rasht–Astara railway.

 

Opposition to Unilateral Sanctions

Emphasizing Iran’s active contribution to SCO’s energy strategy, Aref condemned unilateral sanctions as “disruptive to global energy security and harmful to the international economy.”

 

Additional Iranian Initiatives

Aref also proposed the following to deepen cooperation:

 

  • establishing a joint ICT innovation and research laboratory,
  • forming a SCO Parliamentary Assembly to eliminate legislative obstacles to economic cooperation.

 

He thanked Russia for hosting the meeting and expressed support for Tajikistan as the next chair of the council.

 

SCO Member States

The SCO includes: Iran, Russia, China, Belarus, India, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.