Iran, Russia set to sign monetary treaty to trade in national currencies ousting the US dollar’s use between them completely

Greetings,

Iran, Russia to trade in national currencies

A boost in Tehran-Moscow ties;
Iran and Russia will soon sign a monetary treaty to remove the US dollar from banking transactions and monetary exchanges.

THE VIDEO LINK IS HERE

 

Under the treaty the national currencies of both countries will be accepted in bilateral trade whose value will be determined based on the Special Drawing Rights or SDR recognized by the IMF.

The move helps to prevent the dollar domination and undermine the US sanctions against both countries. The volume of trade between Moscow and Tehran stood at around 1.5 billion dollars back in 2013. In view of the rising level of ties between the two sides the number is expected to reach three billion dollars by the end of 2015.

Currently almost 50 monetary treaties have been signed worldwide. The key treaty comes as an agreement has been reached between Moscow and Tehran to swap petrochemical products, catalysts and chemical additives.

Under the deal, Iranian companies can import different types of catalysts or chemical additives for petrochemical industry in return for selling chemical products to Russia. Under the current conditions, a bilateral or even a trilateral treaty will help Russia, Iran or any other third country to strengthen their economic strategies towards the US and the West. Experts believe the monetary treaty between Moscow and Tehran can truly serve as a bargaining chip for the sanctions against both sides to be lifted.

Click here for reuse options!
Copyright 2014 Hiram's 1555 Blog