Currency

Iran faces challenges in int’l trade due to currency limitations – official


BAKU, Azerbaijan, April 2. It’s not easy to
give up the use of the US dollar and use the national currency in
Iran’s trade with other countries, Iranian co-chairman of the Joint
Chamber of Commerce and Industry of Iran and Tajikistan Mohammad
Hossein Roshanak said, Trend reports.

According to him, it will take Iran many years to use the
national currency in trade with other countries. Abandoning the US
dollar and using national currencies in Iran’s trade with Iraq and
Afghanistan is possible.

Roshanak stated that despite Iran’s efforts, international
currencies are being used in trade with Central Asian countries,
including Tajikistan.

To note, certain problems in Iran’s foreign trade have arisen
due to the sanctions imposed on Iran by the US and Western
countries. Based on this, Iran is interested in using national
currencies in foreign trade.

Additionally, the US imposed new sanctions on Iran in November
2018 in connection with Iran’s nuclear program. Over the past
period, the sanctions have affected Iranian oil exports and more
than 700 banks, companies, and individuals.

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