Iran not to use US dollar in trade with Russia, Iraq, Azerbaijan

2018-07-08 07:19:17

(MENAFN) Aiming at regaining its currency's value after the US withdrawal from the nuclear deal and imposing some new sanctions on the country, Tehran has reached an agreement with its allies, Baghdad, Moscow, Ankara, and Baku to deal with their currency instead of the Washington's.

Only USD100 is now equal to IRR 1 million, which has led the Islamic Republic to face a worse economic crisis.

Speaking to reporters, Valiollah Seif, the Governor of the Iranian Central Bank, said that they have agreed with the Turkish financial authorities to open a number of trade bank accounts between the sides.

One of the sanctions imposed on Iran by the US is to prevent the international countries from buying oil from the country, and punish any state if found to have done so.

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