South Korea and Iran have agreed to switch to national currencies in trade exchanges as the sides aim to strengthen relations despite the US sanctions on Tehran.
Despite the rumors that no one is willing to host the trade mechanism over fears of US sanctions, France or Germany have been named as the most viable options.
A response to US-initiated unilateral sanctions should consist of measures to make the euro stronger when it comes to international transactions, French Finance Minister Bruno Le Maire told.
Vice president of Iran's Chamber of Commerce's investment commission says Iran is going to open a special account in an Iraqi state-owned bank,adding granting waiver to Iraq by U.S. is based on having non-dollar transaction with Iran.
South Korea has received a waiver on the renewed U.S. embargo on imports of Iranian oil, after months of negotiations between the allies, foreign media reported Monday.
US Treasury Secretary Steven Mnuchin has warned global financial messaging service SWIFT that it could be penalized if it doesn’t cut off financial services to entities and individuals doing business with Iran.
