Iran, Russia, Turkey to Ditch US Dollar in Trade

Published September 9th, 2018 - 08:58 GMT
Iran has discussed trade in national currencies with Russia and Turkey in order to reduce the impact of U.S. dollar on the three countries’ trade and economies. (Shutterstock)
Iran has discussed trade in national currencies with Russia and Turkey in order to reduce the impact of U.S. dollar on the three countries’ trade and economies. (Shutterstock)

Iran has discussed trade in national currencies with Russia and Turkey in order to reduce the impact of U.S. dollar on the three countries’ trade and economies, ILNA reported on Saturday quoting Central bank of Iran (CBI) Governor Abdolnaser Hemmati.

“During the trilateral meeting with Russia and Turkey, I and the Oil Minister Mr. Zanganeh also had some useful meetings with the economic representatives of the two countries in which we discussed various subjects,” ILNA cited the official’s personal webpage.

According to Hemmati, selling oil, purchasing basic goods, expansion of banking relations, exchanging national currencies with the aim of eliminating dollar, and development of trade and economic relations, were among the subjects which were discussed with the two neighboring countries.

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“We decided to follow up on the agreements in a meeting with the governor of Russia’s central bank in Moscow,” Hemmati wrote in his page.

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan along with two high ranking delegations visited Tehran on Friday for a trilateral summit on Syria and also to discuss expansion of ties.


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