Loading ...Iran and Russia reach agreement to trade in local currencies instead of U.S. Dollar.
Russia and Iran have finalized an agreement to trade in their local currencies instead of the U.S dollar, Iran’s state media has reported. Both countries are subject to U.S. sanctions.
“Banks and economic actors can now use infrastructures including non-SWIFT interbank systems to deal in local currencies,”
Now how hard was that? Not very! Yet the big problem is not in trade , but in reserves. Where do you park your money? it’s happening, but it ain’t going to be quick, or easy!