Iranian official media reported that Iran and Russia have reached an agreement on trade in their local currencies instead of the US dollar. She added that the agreement was signed during a meeting between the governors of the two countries’ central banks in Russia.
The media explained, “Banks and economic actors can now use infrastructure, including internal interbank banking systems, without the need to use the Society for Global Interbank Financial Telecommunications (SWIFT) system, to deal in local currencies.”
Members of the Eurasian Economic Union, led by Russia, signed a full free trade agreement with Iran on December 25.
Iran’s importance to the Kremlin increased after Western sanctions imposed on Moscow due to Moscow’s conflict in Ukraine limited Russia’s foreign trade routes and forced it to search for markets outside Europe.
Iranian authorities stated that military cooperation with Russia is expanding. Iran said in November that it had completed arrangements to acquire Su-35 fighter jets, Mi-28 attack helicopters and Yak-130 military trainer aircraft from Russia.
#Iran #Russia #intend #trade #local #currency #dollar
2023-12-27 19:03:46
