Iran and Russia are currently conducting bilateral trade in their local currencies, rial and ruble respectively, as well as euro, a former official of Iran-Russia Chamber of Commerce said.
"Trade with Russia is conducted in rial and ruble, but since both Russia and Iran are among exporters of crude oil, oil products and heavy industrial products and these goods are priced in dollars, both countries are under the influence of dollar," Qadir Qiafeh, the former vice chairman of Iran-Russia Chamber of Commerce, told Fars News Agency.
June 01, 2018 19:35
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Iran, Russia Dealing in Local Currencies, Euro
Since Russians are also in thrall to US and European sanctions, their banks are dealing with Iranian banks with greater flexibility
The way forward is to increase trade with Europe since this would encourage their banks to work with Iran
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