08 September 2018 - 13:57

Coalition of Iran,Russia,Turkey to Ditch Dollar

Iran, Russia and Turkey have taken a new step recently to eliminate USD in trade transactions, using national currencies in bilateral trade instead of it, amid their trade war with the U.S.A.
News ID : 90997

IBENA- In sidelines of Trilateral Summit of Tehran, some agreements regarding economic affairs, banking relations and ditching dollars from Iran, Russia and Turkey's trade transactions have been done.

"Three countries' economic officials had bilateral and constructive meetings in the presence of the Presidents of Iran, Russia and Turkey and some issues such as selling oil, purchasing basic goods, expanding banking relations, exchanging national currencies in an effort to eliminate dollar and develop trade and economic relations were negotiated", Abdolnaser Hemmati, Central Bank of Iran's Governor, said.

Iran has been making an attempt to ditch dollar from trade transactions to ease sanctions effect since a few months ago. On the other hand, imposing financial and economic sanctions against Russia and Turkey has made these states more determined to eliminate dollar from their trade transaction.

Meanwhile Turkish President  Recep Tayyip Erdogan stressed the increasing banking cooperation and using national currencies in bilateral trade with Iran.

The agreement on ditching dollar from Iran and Russia trade transactions has been more serious amid Russian authorities' severe stance against dollar manipulatingr as a global reserve currency by America to punish some countries.

Russia is actively working on switching to national currencies in settlement with Central Asia, Southeast Asia, Latin America and Africa nations.

It is worth mentioning that IBENA is an only specialized news agency in banking and economy area, which is affiliated with the Central Bank of Iran.

Send Comment