https://sputnikglobe.com/20220829/tehran-moscow-expanding-push-to-scrap-dollar-in-trade-irans-central-bank-says-1100118005.html
Tehran, Moscow Expanding Push to Scrap Dollar in Trade, Iran’s Central Bank Says
Tehran, Moscow Expanding Push to Scrap Dollar in Trade, Iran’s Central Bank Says
Sputnik International
Trade between the two countries hit more than $4 billion in 2021, with both expressing an interest in further ramping up economic cooperation. Last month... 29.08.2022, Sputnik International
2022-08-29T12:07+0000
2022-08-29T12:07+0000
2022-08-29T12:07+0000
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Russia and Iran plan to continue to expand the number of areas in which they no longer need to depend on the US dollar for trade, Iranian Central Bank Governor Ali Salehabadi has indicated.“Iran and Russia have already switched to the use of national currencies in some mutually agreed upon types of settlements. Both sides are making an effort to expand this mechanism to other areas of bilateral trade,” Salehabadi said in an interview with Iranian media on Monday.Russia and Iran have dramatically increased their economic, political and military-technical cooperation in recent years, with Western sanctions against both countries pushing both to search for alternatives to Western-dominated financial systems and markets.At a press conference in Tehran on Monday marking the one year anniversary of his tenure in office, President Raisi told a Sputnik Persian correspondent that cooperation between Iran and Russia is “strategic” in nature, and that it “comprises trade, economic, energy, aerospace industries, and some others.”“Currently, we are discussing investments in energy and oil and gas industries, and some of the projects have been implemented already,” Raisi said.Last month, Iranian Foreign Ministry official Mehdi Safari told Sputnik that Iran and Russia were working on the creation of a SWIFT-style system to dedollarize joint trade, and indicated that Russia’s MIR payment system would soon become operational in Iran.Trade turnover between Russia and Iran reached more than $4 billion in 2021, with Russian exports accounting for over $3 billion of that figure, and imports from the Islamic Republic reaching $967.73 million, a 21.4 percent jump compared to 2020. Nearly 80 percent of trade between the two countries currently consists of agricultural goods, with Russia exporting grains and oilseeds, and importing GMO-free Iranian fruits and veggies, as well as dried fruits and nuts.Iran is the latest nation to welcome trade with Russia in national currencies, with Moscow spending years forging backup ruble-based trade links with countries across Asia, Africa and Latin America, and expanding their use dramatically after February 24 and the sanctions regime imposed by the West over Russia’s ongoing military operation in Ukraine.Iran and Russia signed a $40 billion energy cooperation agreement last month, with the National Iranian Oil Company and Russian gas giant Gazprom inking a memorandum of understanding (MoU) providing for the development of the Kish, North Pars and South Pars gas fields, the construction of gas infrastructure and scientific and technical cooperation.Separately, last week, Iranian Industries Minister Reza Fatemi-Amin announced that Iran and Russia would be expanding collaboration in automotive manufacturing, with Iranian automotive giants Iran Khodro Company and Saipa planning joint projects with Russian counterparts, including AvtoVaz.
https://sputnikglobe.com/20220829/iran-and-russia-agree-on-strategic-cooperation-plan-president-raisi-tells-sputnik-1100108424.html
https://sputnikglobe.com/20220822/world-powers-want-irans-military-tech-top-commander-says-1099869734.html
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Tehran, Moscow Expanding Push to Scrap Dollar in Trade, Iran’s Central Bank Says
Trade between the two countries hit more than $4 billion in 2021, with both expressing an interest in further ramping up economic cooperation. Last month, Moscow and Tehran signed a major investment deal under which Russia would invest the equivalent of $40 billion in the Islamic Republic’s energy sector.
Russia and Iran plan to continue to expand the number of areas in which they no longer need to depend on the US dollar for trade, Iranian Central Bank Governor Ali Salehabadi has indicated.
“Iran and Russia have already switched to the use of national currencies in some mutually agreed upon types of settlements. Both sides are making an effort to expand this mechanism to other areas of bilateral trade,” Salehabadi
said in an interview with Iranian media on Monday.
“Tehran and Moscow have been looking for such a mechanism to replace the American dollar for a long time, in spite of the tough economic sanctions imposed on both countries. The use of the Iranian and Russian national currencies – the rial and the ruble, is one of the priorities of the administration of Iranian President Ebrahim Raisi,” Salehabadi said.
Russia and Iran have dramatically increased their economic, political and military-technical cooperation in recent years, with Western sanctions against both countries pushing both to search for alternatives to Western-dominated financial systems and markets.
At a press conference in Tehran on Monday marking the one year anniversary of his tenure in office, President Raisi told a Sputnik Persian correspondent that cooperation between Iran and Russia is “strategic” in nature, and that it “comprises trade, economic, energy, aerospace industries, and some others.”
“Currently, we are discussing investments in energy and oil and gas industries, and some of the projects have been implemented already,” Raisi
said.
29 August 2022, 10:24 GMT
Last month, Iranian Foreign Ministry official Mehdi Safari told Sputnik that Iran and Russia were working on the creation of a SWIFT-style system to dedollarize joint trade, and indicated that Russia’s MIR payment system would soon become operational in Iran.
Trade turnover between Russia and Iran reached more than $4 billion in 2021, with Russian exports accounting for over $3 billion of that figure, and imports from the Islamic Republic reaching $967.73 million, a 21.4 percent jump compared to 2020. Nearly 80 percent of trade between the two countries currently consists of agricultural goods, with Russia exporting grains and oilseeds, and importing GMO-free Iranian fruits and veggies, as well as dried fruits and nuts.
Iran is the latest nation to welcome trade with Russia in national currencies, with Moscow spending years forging backup ruble-based trade links with countries across Asia, Africa and Latin America, and expanding their use dramatically after February 24 and the sanctions regime imposed by the West over Russia’s ongoing military operation in Ukraine.
Iran and Russia signed a
$40 billion energy cooperation agreement last month, with the National Iranian Oil Company and Russian gas giant Gazprom inking a memorandum of understanding (MoU) providing for the development of the Kish, North Pars and South Pars gas fields, the construction of gas infrastructure and scientific and technical cooperation.
Separately, last week, Iranian Industries Minister Reza Fatemi-Amin
announced that Iran and Russia would be expanding collaboration in automotive manufacturing, with Iranian automotive giants Iran Khodro Company and Saipa planning joint projects with Russian counterparts, including AvtoVaz.
22 August 2022, 16:45 GMT
