After suspending dollar deal .. Iran: Trade exchanges with Iraq will be in alternative currencies

Admin Sun Sep 02, 2018 9:35 am

Sunday, September 2,

Alsumaria News / Baghdad
The head of the Iranian-Iraqi Chamber of Commerce Yahia Al-Ishaq announced the suspension of the dollar exchange between the two countries in terms of trade exchanges between the two countries.

The US dollar will be replaced by other currencies such as the euro, the Iranian riyal and the Iraqi dinar, the Mehr news agency reported.

"Most of the trade exchanges will take place in alternative currencies," said the head of the Iranian-Iraqi Chamber of Commerce. "Another part of the trade between the Iranian exporters and the Iraqi merchants will be through a trade-off system or in consensual forms."

He said that "the volume of transfer of funds between Baghdad and Tehran through banks is very few, despite the existence of transactions between the two countries worth 8 billion dollars."

"The resolution of banking issues between the two countries should be one of the priorities of the main Iranian economy, in order to remove obstacles to the establishment of a joint Iranian-Iraqi bank," Yahya al-Ishaq said.

"Iraq is Iran's second largest trade partner after China," he said, adding that "Iran's exports to Iraq are very different from Iranian exports to China."

Iraqi Prime Minister Haider al-Abbadi said in August that Baghdad rejects any economic sanctions against any country, especially neighboring countries, while stressing Iraq's commitment not to deal with the US dollar with Iran.

Washington has imposed sanctions against Iran in several areas, including bank transfers in US currency, metals, aluminum, steel, etc., while energy and oil will be in November.

The United States withdrew from the nuclear deal with Iran last May, announcing the resumption of severe economic sanctions against Tehran, while the local Iranian currency has seen a significant devaluation of its value against foreign currencies.

http://www.alsumaria.tv/news/81728/ط£ط±ط¨ط¹ط

-ظ‚طھظ„ظ‰-ظˆ12-ط¬ط±ظٹطط§-ظپظٹ-طط