Members of the Russian-led Eurasian Economic Union have signed a full-fledged free trade agreement with Iran, which will become permanent and replace a temporary pact that has been in place since 2019, leading to an increase in mutual trade. Iran and Russia have finalized an agreement to trade in their local currencies, as announced by Iranian state media following a meeting between Iran's Central Bank Governor Mohammad Reza Farzin and the Bank of Russia Governor Elvira Nabiullina in Moscow. In a significant shift, Saudi Arabia is also moving away from the US dollar in oil trades, evidenced by a 50 billion yuan currency swap deal with China. This move allows China to buy oil outside the US-controlled financial system, signaling the growing influence of the renminbi in global oil trades.
Russia and Iran step up de-dollarization drive with pact to shun the greenback in bilateral trade, report says https://t.co/px9ez2LJz5
Zerohedge today. IMO, this is only the beginning of what is coming. The dollar was backed by oil, as the only currency oil was traded in. Saudi is abandoning the dollar as the currency of oil after how we botched the Afghanistan retreat. https://t.co/R2LZLkF6ql
BREAKING: Iranian state media says Iran and Russia 'agree to ditch US dollar' and instead 'trade in national currencies'
#Iran and #Russia have finalized an agreement to trade in their local currencies instead of the US dollar, Iran’s state media report. https://t.co/NuHFqAkIin
BREAKING: Iran and Russia finalize deal to trade in local currencies, ditching the US Dollar.
JUST IN: 🇮🇷 🇷🇺 Iran and Russia finalize deal to trade in local currencies, ditching the US Dollar. https://t.co/dpMPuVXSJj
The agreement was finalized during a meeting between the governors of the two countries' central banks in Russia. #Iran | #Russia | #IranRussia https://t.co/graACVkErI
⚠️ IRAN, RUSSIA TO TRADE IN LOCAL CURRENCIES INSTEAD OF US DOLLAR - STATE MEDIA Iran and Russia have finalised an agreement to trade in their local currencies instead of the U.S dollar, Iran's state media reported on Wednesday. The agreement was finalised during a meeting…
Iranian publication ============== 'Governor of the Central Bank of Iran (CBI) Mohammad Reza Farzin held talks with the Bank of Russia Governor Elvira Nabiullina in Moscow on Wednesday to discuss mutual ties in the banking and monetary fields.' 'During a meeting, the two top… https://t.co/4FgVwTUDUK https://t.co/vxG0N5SN8A
JUST IN: 🇨🇳 🇸🇦 China & Saudi Arabia ditch US dollar to sign a 50bn Yuan currency swap for trade. This allows China to start buying oil outside US controlled financial system. 👀 https://t.co/kHmjEDEwJI
NEW: 🇨🇳 China and 🇸🇦 Saudi Arabia signed a 50B yuan currency swap 👀 Though small compared to their total trade, it's a pivotal move. If oil trades in renminbi, it bypasses Western systems, making sanctions harder. 🇷🇺 Russia's adoption of RMB pressures SA to follow suit 😮 https://t.co/KwjhAkK2RI
Members of the Russian-led Eurasian Economic Union have signed a full-fledged free trade agreement with Iran. The agreement will become permanent and replace a similar temporary pact in force since 2019. The previous deal facilitated mutual trade with Iran and increased it to… https://t.co/TXTRskHaJt