- Is Maguire Right? Are the Bullion Banks On the Ropes? April 23, 2017 The Doc
- Explosive Moves in the Wings? April 23, 2017 The Doc
- Henry Gruver’s Incredible Vision Of Russian Submarines Launching Nuclear Missiles At The United States April 23, 2017 The Doc
- Gold Splits from Silver, Ratio Gains Before French Election But GLD Shrinks, 'Safe Haven' Demand Lacking April 21, 2017 Adrian Ash
- GLD Adds Most Gold Bars Since Sept. But Price Caught in 'Tug of War' April 20, 2017 Adrian Ash
- Gold Bullion Slips Again from 'MAJOR' Hurdle of 2011 Downtrend as IMF Raises Global GDP Forecasts April 19, 2017 Adrian Ash
Tehran Says Russia Partly Replaced Dollar With Ruble In Iran Trades
Tehran has replaced dollars with rubles in some of its dealings with Russia, an Iranian official was quoted as saying Saturday, as the Islamic Republic take steps to mitigate the impact of sanctions on its central bank.
Speaking to Iran’s Fars news agency, Tehran’s Ambassador to Moscow Seyed Reza Sajjadi said the proposal for replacing the U.S. dollar with the rubles and the Iranian rial was initially made by Russian president Dmitry Medvedev to his Iranian counterpart Mahmoud Ahmadinejad last June.
“Since then, we have acted on this basis and a part of our interactions is done in ruble now,” Sajjadi said.
New sanctions approved by U.S. president Barack Obama last week ban international banks from interacting with the Central Bank of Iran. Though it comes with exemptions and grace period, the legislation is set to complicate any clearing of Iranian oil sales in dollars.
Fars quoted the Iranian ambassador as saying Moscow opposed unilateral sanctions on Iran outside the U.N. Security Council, in particular the recent sanctions against the CBI.
The “Russians have clearly announced that they will not accept these sanctions and Iran’s nuclear issue is resolvable just through negotiations,” Sajjadi said.
Iran has replaced the dollar with local currencies in its oil trade with India, China and Japan, Fars reported.