Iran, Russia Pursuing Expansion of Banking Ties, Ditching Dollar

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MOSCOW/TEHRAN – Russian Ambassador to Iran Levan Dzhagaryan underlined that Tehran and Moscow are making efforts to further broaden economic and banking ties and omit dollar from their trade amid the US sanctions.

“Increasing banking transactions will result in increasing of trade between the two countries,” Dzhagaryan said, addressing the “Khazar (Caspian Sea) National Day” conference in Babolsar in Northern Iran on Thursday.

“I hope that increasing in banking transactions will pave the way for further elimination of dollar from the two countries’ trade,” he added.

Dzhagaryan said that the level of cooperation between Iran and Russia is high due to the political will of the two sides.

“A Russia economic delegation will visit Iran’s northern provinces in near future in order to increase economic and trade cooperation between two countries,” he added.

In relevant remarks in July, Dzhagaryan had said that the US sanctions did not have any impact on Moscow-Tehran relations, adding that the two countries were resolved to further expand their mutual cooperation.

“The two countries (the Islamic Republic of Iran and Russian Federation) are cooperating in many fields, and the bilateral ties can be expanded through better planning,” the Russian envoy said.

He also announced a joint summit of major Iranian and Russian universities in one of the cities in his country in the near future. Iran and Russia are cooperating in different fields of culture, tourism, economics, transport, and agriculture.

The two countries are also part of the RSII coalition (Russia–Syria–Iran–Iraq coalition), which has contributed the most to the defeat of ISIS and other foreign-supported terrorist groups operating in the Syrian Arab Republic.

Russia also supports Iran on many key issues and it is one of the signatories of the JCPOA (Joint Comprehensive Plan of Action), commonly known as the Iran nuclear deal, from which the United States withdrew unilaterally, and resumed sanctions on Iran.

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