Removing USD from Iran's global protocol is a new guideline to the country's trade relations | Eurasia Diary - ednews.net

23 May, Thursday


Removing USD from Iran's global protocol is a new guideline to the country's trade relations

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Removing US dollar from Iran's global protocol is a new guideline to the country's trade relations, said the Governor of Iran's Central Bank Abdolnaser Hemmati.

Referring to contracts with Iraqi officials, Hemmati said that considering the present approach in Iran-Iraq economic and trade ties and with other neighbors including Turkey, Azerbaijan and Afghanistan, one can speak of the changes in destination of Iran's exports of goods and services, Trend reports citing IRNA.

He noted the US sanctions have failed in reality and eventually, it would led to a change in the structure of Iran's trade. "The immediate reaction of related public organizations will hasten the change."

"The transaction limit between Iran and Iraq is due to US sanctions that have created complexity in banking relations of the two countries. Nevertheless, our Iraqi counterparts will use special payment mechanism in trade, so we will be able to receive the payment for exported goods," he added.

Hemmati noted that the next step is to ensure a balance in trade between neighboring countries that will reduce Iran's dependency on direct imports and instead important part of exports from these countries will be re-exported to Iran.chanism in trade, so we will be able to receive the payment for exported goods," he added.

Trend News Agency

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