Peskov: Russia and Iraq's bilateral settlement will gradually abandon the US dollar

Russian President Putin started visiting Iran on the 19th local time. Russian Presidential Press Secretary Peskov recently said in an interview with Iranian TV station that Russia regarded Iran as "reliable friends and partners", and the two countries will gradually abandon the U.S. dollar in future trade.

Peskov said Russia and Iran's total trade in 2021 exceeded $ 4 billion. He said that settlement of US dollars in bilateral trade may be wrong. Over time and the cooperation between the two countries in the financial field, Russia and Iran will gradually abandon the method of settlement in the US dollar. He said that the net trade volume in the past few months has increased by 31%, which is a positive trend. He also believes that the establishment of cooperation between Russia and Iran can reduce the impact of Western sanctions on the two countries.

In fact, since the outbreak of Russia and Ukraine's conflict, in order to avoid western sanctions from hurting the economic chassis, Russia has first announced the promotion of "de -US dollar". Russia has switched to ruble settlement when it supplies natural gas from "unfriendly" countries and regions on April 1. The Russian government also said that it does not rule out that this settlement model is promoted to other fields.

Analysts believe that the currency of a country may be depreciated or even abandoned due to inflation, shortness, and sanctions, but energy and commodities are "hard currency". As a large resource country, Russia's implementation of the "ruble settlement order" is not only a countermeasure for Western sanctions, but also an attempt to get rid of the Western leading payment system.

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