Almost all mutual trade between Iran and Russia is done with “national currency”.
reported by Mehr News Agency quoted Rashatoudi, the Kremlin Palace announced in a statement that Russia and Iran have almost completely abandoned foreign currencies in mutual transactions and use the national currency.
The Kremlin statement also mentions that the two countries make more than 96% of mutual payments in rubles and rials. According to the Kremlin, the volume of bilateral trade has increased by 12.4% in the first eight months of this year, and this figure will be more than 4 billion dollars in 2023. In a part of this statement, it is emphasized: the leaders of the two countries give priority to the development of trade and economic relations.
According to the Kremlin, Russia and Iran are jointly developing several large projects in the field of transportation and energy, including the construction of new production units in Bushehr nuclear power plant and The North-South International Corridor, which connects Saint Petersburg to the port city of Mumbai in India, operates and cooperates.
Moscow has emphasized that relations between the two countries are “growing” and the Kremlin expects these relations to reach the level of “comprehensive strategic partnership” in the future. Russian President Vladimir Putin is scheduled to meet with Iran’s President Masoud Bezikian on the sidelines of the BRICS summit (October 22-24/November 1-3). The doctors and Putin talked to each other earlier through a phone call and also at a meeting in Ashgabat in early October.
Russia has seriously and dynamically reduced the use of dollars in its international transactions, and more than 95% of bilateral trade agreements and contracts between Moscow and Beijing are in “Yuan” And “Ruble” is done. Russian Prime Minister Mikhail Mishustin confirmed this in August.
Reuters reported last week that Moscow plans to present its plan to create a new international financial mechanism at the BRICS summit. This plan includes a new payment mechanism that enables participating countries to virtually bypass the dollar and rely on their national currency in international transactions.
