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Renewed Efforts to Sideline US Dollar in Foreign Trade

Renewed Efforts to Sideline US Dollar in Foreign TradeRenewed Efforts to Sideline US Dollar in Foreign Trade

Months after a meeting between Iran’s Leader Ayatollah Seyyed Ali Khamenei and Russian President Vladimir Putin in Tehran spurred officials and lawmakers to sideline the US dollar in Iran’s international deals, members of parliament seem to be at it again.
Gholamali Jafarzadeh Imenabadi, a member of Majlis Planning and Budget Commission, has voiced his support for replacing the US currency in international dealings, saying many countries are currently doing it but none has succeeded in executing it comprehensively.
“Replacing the USD in transactions has not fully alleviated economic pains anywhere in the world, but it has taken us out of the corner of the ring where it is ‘dollar or nothing’, so it has been a good initiative,” he told ICANA, the official news portal of the parliament.

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