Russia and Iran have entered into an agreement to avoid using the dollar in bilateral trade, relying instead on their own currencies, a new report says.
The central bank governors of the two nations sealed the pact at a recent meeting, Iran’s state media reported.
Russian and Iranian banks and companies can now use non-SWIFT messaging platforms and bilateral brokerage links to facilitate transactions in the ruble and rial.
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Source: https://markets.businessinsider.com/news/currencies/dedollarization-russia-iran-agreement-us-dollar-currency-bilateral-trade-2023-12
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