Iran, Russia to abandon dollar in number of mutual settlements

Iran and Russia plan to stop using the dollar in mutual settlements in some areas of trade relations, Governor of the Central Bank of Iran Ali Saleh Abadi said, News.Az reports citing TASS.

"Iran and Russia have already switched to national currencies in some types of settlements they mutually agreed upon," he noted.

"Both sides are making efforts to extend this mechanism to other areas of bilateral trade. Tehran and Moscow have long been looking for such a mechanism to replace the American dollar, despite the tough economic sanctions imposed on both states. The use of the Iranian and Russian national currencies, the rial and the ruble, is one of the priorities on the economic agenda of the administration of Iranian President Ebrahim Raisi," Abadi added.


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