Russia and Iran are organizing cooperation between the Russian financial messaging system and Iran's Electronic Financial Messaging System (SEPAM) as an alternative to making payments through SWIFT for protection against third countries' sanctions, Russian presidential aide Yury Ushakov told reporters Friday.
Iranian Foreign Minister Zarif, while stressing the dwindling power of US dollar in international transactions, said Iran and Turkey used national currencies for 35% of their bilateral trade last year.
Governor of the Central Bank of Iran has outlined six strategies to counter and neutralize the US economic pressures and rein in inflation.
President of Iran-Italy Joint Chamber of Commerce said Thu. that the two countries will continue their banking transactions by ditching dollar in the face of US sanctions. Ahmad Fallahpour made the announcement on Thursday, adding “given the fact that Italy’s economy mostly relies on small and medium-sized enterprises (SMEs), they have little concern about international reactions […]