Iran ditches USD transactions with Russia, Turkey

TEHRAN, Sep. 25 (MNA) – Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati said that Islamic Republic of Iran sidelined US dollar transactions with Russia and Turkey.

Presently, all financial exchanges between Iran and Russia are done via local currencies, he said, adding, “about 30 to 40 percent of financial exchanges with neighboring Turkey is carried out with national currencies while the remaining transaction is done with euro.”

He made the remarks on Wednesday on the sidelines of the Cabinet of Ministers’ meeting and stated, “currently, we do not have any USD-based financial exchanges with Russia and Turkey.”

Hemmati reiterated, “we are doing our business activity with Russia and Turkey in ruble and lira respectively and this trend will sideline US dollar from country’s financial exchanges gradually.”

Many countries now tend to do trade exchanges with Iran in their local currencies in order to prevent US from supervising and monitoring their trade and business trade activities, CBI governor added.

Elsewhere in his remarks, Hemmati pointed to the US reimposition of sanctions against CBI and added, “in fact, US has created serious problems in our banking ties with other countries but we have taken necessary measures in order to minimize effect of sanctions.”

He further noted that CBI is not seeking to circumvent sanctions, adding, “currently, we are carrying out sanctions-free trade.”


News Code 150461


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