Economy, Business And Markets

De-Dollarization Beneficial to Iran Trade Relations

Hadai Tizhoosh Taban, the president of Iran-Russia Chamber of Commerce, described the trilateral agreement as a “good catalyst” for the businesspeople of the three countries
De-Dollarization Beneficial to Iran Trade RelationsDe-Dollarization Beneficial to Iran Trade Relations
When governments decide to eliminate the dollar in trade transactions, they should respond to the question that how transactions would take place afterwards

After Iran, Russia and Turkey, three regional allies hit by US sanctions, discussed a possible replacement of the US dollar by national currencies last week, business figures in Iran are now weighing in on the degree the plan can be implemented with success. 
The discussion, which has been on the agenda of these countries, took place at the recent trilateral summit of the Syrian ceasefire guarantor states. 
Iranian Central Bank Governor Abdolnasser Hemmati wrote in a message posted on Instagram on the issue that “we have decided to proceed with further work in light of the agreements reached at a meeting with the Russian Central Bank governor in Moscow.”  
Russian Foreign Minister Sergey Lavrov previously described the US dollar as a lever of pressure, saying that Washington uses that when it “wants to punish someone”.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment