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Timothy Alexander Guzman – De-Dollarization Accelerates: Iran-Russia “New Trade Agreements” to Drop US Dollar

– The threat of war against Iran is not just about its natural resources, strategic control and supposedly to protect Israel, it is also about the US dollar being used for its oil trades. Iran is moving forward to replace US dollars for its foreign trade with Russia in rials and Russian rubles. This past January, Iran made a significant move by “stopping mutual settlements in dollars with foreign countries.” According to RT news “the Central Bank of Iran (CBI) has said. “In trade exchanges with foreign countries, Iran uses other currencies, including Chinese yuan, euro, Turkish lira, Russian ruble and South Korean won,” Gholamali Kamyab, CBI deputy head, told the Tasnim state news agency. Iranian and Russian delegates have met to discuss new trade agreements. The Iran Daily just published a report that Iran and Russia are in the process of “establishing a joint bank account with Russia to facilitate trade between the two countries in their own currencies.” The Central Bank of Iran (CBI) governor Valiollah Seif stressed the importance of connecting their banking sectors to bolster trade between Iran and Russia. Seif says that a special committee is needed to overcome any obstacles (U.S. sanctions) and to provide lines of credit. The Iran Daily reported what Iran’s ambassador had said in January regarding Iran and Russia’s trade in their own currencies:

Iran’s Ambassador to Russian Mehdi Sanaei said in late January that Tehran and Moscow are working on a plan to switch their bilateral trade to national currencies for which he said the two countries will create a joint bank or a mutual account. “Both sides plan to create a joint bank, or joint account, so that payments may be made in Rubles and Rials and there is an agreement to create a working group [for this],” said Sanaei

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