Iran Fully Ditches Dollar in Trade With Russia, Turkey
Iran Fully Ditches Dollar in Trade With Russia, Turkey
TEHRAN – The Governor of Iran’s Central Bank says the country has fully ditched dollar in its trade with Russia and Turkey and most of its trade with those countries are in national currencies and some part in euro.

Speaking on the sidelines of the cabinet meeting yesterday, Abdolnasser Hemmati said that Iran now has no trade with Russia and Turkey in dollar and if it is talked about euro it is because the euro will be a basic in case the national currencies face fluctuation.


He added that currently the country trades with Russia and Turkey with rouble and lira, adding that several countries are interested in trade in national currencies which secure them from the U.S. supervision and threats.

He added that currently the trade with Russia is fully in national currencies and trade with Turkey is in national currencies but almost 40% of the trade with Turkey is still in euro.

He also pointed to the recent U.S. sanctions on the Central Bank and called it a propagation act, but admitted that sanctions have created problems for banking transactions but the country has found other ways to continue money transfer.

Hemmati said that the country is not after skirting the sanctions but it is currently trading without sanctions.

He once again reiterated that if the U.S. slaps sanctions on the Central Bank four more times, it would be in vain.

He said since the imposition of the first sanctions, the Central Bank had taken precautionary measures to alleviate the impacts of sanctions.

He also noted that peace and stability dominating the forex market and refuted some allegations that the current that is clam before storm.

He rejected some claims that the Central Bank has restricted imports, adding that while the country is in an economic war condition it cannot let the forex be spent for imports of luxurious commodities.