Tehran, Ankara Hold Political Consultations

Iran and Turkey held a new round of political consultations on Tuesday in Ankara where they discussed major issues regarding bilateral ties, as well as current developments in the region and the world. 
The meeting was attended by Deputy Foreign Minister Abbas Araqchi and his Turkish counterpart, Sedat Onal, who explored ways of expanding relations under the present circumstances, ISNA reported.  
The two sides also pursued the implementation of agreements between the presidents of the two countries during the fifth meeting of the Turkey-Iran High-Level Cooperation Council last year. 
Speaking on the sidelines of the event, Araqchi said a special financial mechanism similar to the European Union's INSTEX (Instrument in Support of Trade Exchanges) has been designed to preserve the country's economic relations with friendly states such as Turkey while the country is facing US sanctions. 
The deputy minister noted that a similar financial mechanism using local currencies has been designed for boosting economic cooperation. 
American sanctions were reimposed on Tehran after US President Donald Trump pulled his country out of the 2015 nuclear deal. The measures have restricted Iran's international trade by banning the use of the US dollar in transactions. 
The EU has designed a special purpose vehicle known as INSTEX to facilitate trade with Iran through a non-dollar system, although it has not been fully activated yet. 
"Definitely, it is not that dollar is the only solution for the global economy," Araqchi said. 
He added that Iran and Turkey are important neighbors and have serious and wide-ranging cooperation, even in the sanctions era. 
"Major economic collaborations are progressing constructively, especially by using the new [financial] mechanisms," he added. 
Araqchi also said Iran is adopting a policy of using all capacities and international channels to combat the US hostile move to place "maximum pressure" on the country. 
"Naturally, we have maximum preparedness and maximum resistance against America's maximum pressure policy and will minimize [the effects of] these threats and sanctions," he said.