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Moscow plans to continue its cooperation with Iran even if new sanctions are slapped on Tehran, Russian Energy Minister Alexander Novak told reporters on Wednesday.

Dollar price has decreased sharply despite high fluctuation in the currency market and also banks have entered the market to buy foreign exchange.

Iran and its trading partners are working to establish mechanisms for the oil trade to bypass US sanctions against the country, said Iranian Deputy Foreign Minister Abbas Araghchi.

Japan's crude oil imports from Iran jumped 65% year on year in August, marking the fourth consecutive month of increase, according to government trade data released.

Central Bank of Iran has been authorized by High Council of Three Powers Coordination to interfere in the currency market to stabilize it.

China fully supports the EU's proposal to set up a "special payments system" to facilitate trade with Iran and safeguard the Iranian nuclear deal, a move experts say will reduce reliance on the US dollar in global trade and further isolate it from the international community.

The European Union is creating a new payment mechanism to allow countries to legally trade with Iran amid US sanctions.

France should consider setting up a special bank for trade with Iran and Russia, as the suggested special-purpose vehicle (SPV) to bypass US sanctions is insufficient, Damien Lempereur, spokesman for the French right-wing Debout La France party.

President Recep Tayyip Erdogan said Turkey will continue to buy natural gas from Iran in line with its long-term supply contract ignoring US' threats to punish countries doing business with Iran.

"The European Union will set up a legal entity to facilitate legitimate financial transactions with Iran to allow for continued trade", EU High Representative for Foreign Affairs and Security Federica Mogherini said.