Iran ditches USD in trade with Russia, Turkey: official

Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati announced that Iran uses national currencies and euro in the bilateral trade with Russia and Turkey, Tasnim news agency reported.

Hemmati said that Iran currently does not use U.S. dollar in its trade with Russia and Turkey, and “this trend is gradually removing the U.S. dollar from (Iran’s) trade cycle.”

“Many countries are now willing to trade with their national currencies so that the United States could not monitor their trade,” he was quoted as saying.

The CBI chief also referred to President Hassan Rouhani’s meeting with his Russian counterpart, on the sidelines of the fifth trilateral summit of Iran, Russia and Turkey in Ankara on Sept. 16, and said that the banking ties between Tehran and Moscow were also discussed at the meeting.

Iran has announced that Tehran and Moscow have taken steps to integrate banking payment systems.