Iran is stopping mutual settlements in dollars with foreign countries and agreements on bilateral swap in new currencies will be signed in the near future, the Central Bank of Iran (CBI) has said.
“In trade exchanges with foreign countries, Iran uses other currencies, including Chinese yuan, euro, Turkish lira, Russian ruble and South Korean won,” Gholamali Kamyab, CBI deputy head, told the Tasnim state news agency. Continue reading Iran moves away from US dollar in foreign trade
A senior Iranian official says the East Caspian Sea railway project between Iran, Turkmenistan and Kazakhstan will prove that sanctions against Tehran have failed to affect the Islamic Republic’s ties with regional countries.
“The inauguration of this huge project will prove that cruel international and unilateral sanctions [against Tehran] have had no impact on regional countries’ desire for the expansion of cooperation with Iran,” Presidential Office’s Deputy for Communications and Publicity Parviz Esmaeili said on Monday.
He added that the Islamic Republic’s strategy is based on multilateral cooperation with the purpose of improving regional security. Continue reading East Caspian railway project proves futility of sanctions against Iran
Russian Economy Minister Alexei Ulyukayev says Moscow plans to sign contracts with Iran to start delivering grain and industrial products to Tehran in return for oil.
“This question was raised. It will affect not only grain, there are broad lists of goods,” Ulyukayev told reporters in Tehran on Sunday, referring to his meeting earlier in the day with his Iranian counterpart, Ali Tayyebnia.
He hoped a deal could be reached in this regard in the near future, adding that the central banks of Russia and Iran are working on ways to start making payments in the two countries’ national currencies and preparatory work has already begun to achieve this goal. Continue reading Russia to give grain to Iran in return for oil
by Saman Kojouri, Press TV
Iran’s membership in the Interexchange Electronic Union; Iran has joined the interexchange electronic union which brings together the mercantile exchanges of the Commonwealth of Independent States (CIS) and Eastern European countries.
Iran’s membership was announced at the second meeting of the interexchange Electronic Union held in Tehran. The IEU had earlier requested the membership of Iran’s Mercantile Exchange in the union. The event is considered as a turning point in the history of Iran’s capital market. Continue reading Iran Joins Interexchange Electronic Union