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Iran, Russia to ditch dollar in bilateral trade

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Ebrahim Rezaei, Chairman of the Iran-Russia parliamentary friendship group

Chairman of the Iran-Russia parliamentary friendship group says that Tehran and Moscow have reached good agreements in various fields.

Ebrahim Rezaei told local media on Sunday that in the field of energy, the two sides agreed to cooperate in the development of Iran’s oil and natural gas fields.

In the monetary and banking sector, Iran and Russia agreed to take positive steps to ditch the US dollar as the dominant currency in bilateral trade, particularly in the transportation sector, he said.

Rezaei also pointed out that the international trade among countries located in the Eurasia continental area amounted to $300bn annually and if Iran achieved to gain even ten percent of business going on in this market, it would result in a major economic boost for the nation.

Rezaei comments come after Iranian President Ebrahim Raeisi’s visit to Moscow last week, as part of comprehensive plans to expand all-out cooperation between the neighboring countries.

Meanwhile, Foreign Minister Hossein Amir-Abdollahian described Raeisi’s recent trip to Russia as a “great achievement” and new chapter in relations between Tehran and Moscow.

Iran’s top diplomat said Raeisi’s two-day visit had great achievements for the country and brought about openness in relations with regard to Tehran's foreign policy.

Amir-Abdollahian pointed out that during the visit “necessary decisions were made on important issues of mutual interest.”

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