News ID: 271986
Published: 0230 GMT July 25, 2020

Official: Iran exports to Russia up 20% amid virus outbreak

Official: Iran exports to Russia up 20% amid virus outbreak

Chairman of Iran-Russia Joint Chamber of Commerce Hadi Tiz’hoosh-Taban said a 20 percent increase in Iran’s exports to Russia over the first three months of the current Iranian year (March 20-June 20) shows that the coronavirus outbreak has not affected bilateral trade relations.

Elaborating on creating Iran-Eurasia national office, Tizhoosh-Taban told IRNA that we are after creating a network in 12 southern Russian provinces for improving trade ties.

Russia has plans to get connected to the south of Iran, Eastern Asian states and the south of Persian Gulf through rail transit, Tizhoosh Taban noted.

Central Bank of Iran Governor Abdolnaser Hemmati said in September, 2019 that Iran and Russia have ditched the dollar in bilateral trade and are now carrying out all their transactions in national currencies.

Now all of our financial transactions with Russia are through the national currency of the two countries. About 30 to 50 percent of the trade with Turkey is also done with the national currency and the rest with the euro,” he told reporters in Tehran after a cabinet meeting.

This trend is gradually removing the dollar from the trading cycle, with many countries now willing to trade in their national currency so that the US does not oversee their trade,” Hemmati added.

In the future, Iran will establish business, financial, and banking relationships using methods with non-dollar transactions.

Across the world, a campaign is gaining momentum to break the dollars hegemony.

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