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Iranian VP Calls for Expanding Use of National Currencies in Trade with Russia

(Friday, December 23, 2022) 23:51

Iranian First Vice-President Mohammad Mokhber urged quick expansion of trade in national currencies with Russia amid efforts by the two countries to de-dollarize several sectors of commercial relations.

 

 

 

Mokhber made the remarks in a meeting with Russia’s Presidential Aide Igor Levitin in Tehran on Wednesday.
 
The vice president said that increased use of national currencies in trade with Russia could lead to a big jump in trade exchanges between the two countries.  
 
He also added that an acceleration in efforts to finish the Rasht-Astara railway, a project along the Caspian Sea in northern Iran that relies on Russia’s financial aid, will cause a boom in trade and cargo transit between Iran and Russia.  
 
“Trade cooperation between Tehran and Moscow will not only serve the needs and interests of Iran and Russia, but it will meet the needs of the region and its markets and will lead to increased benefits for the two nations,” Mokhber noted.
 
Levitin, for his part, said Russia has strong plans to expand its economic and trade ties with Iran, adding that Moscow is particularly interested in investments that could boost transit of cargo through the Iranian roads and railways.
 
Russian suppliers of agricultural equipment and bus manufacturers are eager to increase their presence in the Iranian market, Levitin stated. 
 
Back in late-August, Iran's Industry, Mine and Trade Minister Reza Fatemi Amin announced that Tehran and Moscow have officially started doing business in their national currencies, namely rial and ruble.
 
Iran's Leader Calls for Binning US Dollar in Trade Tieshttps://t.co/FedWgkrKpd pic.twitter.com/pAUqboeE9U
 
— Fars News Agency (@EnglishFars) July 20, 2022
Iranian officials say Tehran and Moscow, both subjected to tough economic sanctions by the Western countries, are determined to deepen their economic cooperation, adding that there are great capacities for increasing the volume of bilateral trade.
 
Several officials in Tehran and Moscow have repeatedly accused the United States of using the dollar as an instrument to wage economic and political war.
 
Iran and Russia have grown exchane of visits by officials to speed up expansion of relations in recent months.
 
The administration of President Seyed Ebrahim Rayessi has made ties with neighbors a top priority of its foreign policy.
 
In late June, Iranian Government Spokesman Ali Bahadori Jahromi reiterated that President Rayeesi's foreign policy is basically built on good neighborliness. He stated that Tehran is willing to further expand relations and cooperation with its neighbors despite enemies' opposition.
 
Iran has significantly expanded bilateral cooperations with its neighbors in recent months, especially in trade and commerce

 

 

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