Russia would dump dollar and euro in oil trade with Turkey and Iran

Section:

From Russia Today, Moscow
Monday, April 9, 2018

Russian Energy Minister Aleksandr Novak said the country is considering an option of payments for oil in national currencies, in particular with Turkey and Iran.

Novak said both countries are interested but there is also a matter of conversion of currencies and their further use. "There is a common understanding that we need to move towards the use of national currencies in our settlements. There is a need for this, as well as the wish of the parties," Novak said.

... Dispatch continues below ...



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He explained: "This concerns both Turkey and Iran. We are considering an option of payment in national currencies with them. This requires certain adjustments in the financial, economic, and banking sectors." ...

While meeting with Russian President Vladimir Putin in November, Iranian Supreme Leader Ali Khamenei said that the best way to beat U.S. sanctions against the two countries was joint efforts to dump the American currency in bilateral trade. He told Putin that by using methods such as eliminating the greenback and replacing it with national currencies in transactions between two or more parties, the sides could "isolate the Americans."

... For the remainder of the report:

https://www.rt.com/business/423564-russia-oil-national-currencies/

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