It certainly makes sense.  Just as the Petrodollar underpins the status of "global reserve currency" for the dollar's putative value, the BRICS need a similar stock of oil a debt instrument they issue trades for.  They have set up also an aalternative cleearing system for trades to the SWIFT system used by the Western banks.

The lynchpin they still haven't issued or agreed on is  what that debt instrument will be and how it will be constructed.  I doubt they will use either the Rouble or Renminby for this, but rather create a new currency based on a basket of these currencies (plus the Real & Rial etc) and Gold to price out all international trades.  Then each country would be able to adjust the value of their own currency for domestic commerce.  They'll need also to set up a central bank and satellites to issue the new currency for each of their members, like the Euro.  This biz is all going to take some time.

Starting a war with Iran definitely will delay things on the monetary front.  I wouldn't expect Mother Russia or China to drop in officially, but I can certainly see both supplying the Iranians with advanced weaponry like hypersonic cruise missiles that could target Israeli basses and Saudi oil infrastructure.  The whole biz easily could escalate to WWIII.

RE