Iran said SCO and BRICS should follow the path of de-dollarisation and trade in national currencies
Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari said that the SCO and BRICS should follow the path of de-dollarisation and trade in national currencies, RIA Novosti reports
Mehdi Safari said that ‘de-dollarisation’ means that countries will carry out trade transactions in their national currencies. Both the SCO and BRICS should follow this path, the Foreign Ministry representative noted.
The Deputy Head of the Iranian Foreign Ministry explained that trade in national currencies with Russia, Kazakhstan and a number of other countries ‘can become a good basis for swap trading’, and stressed that ‘swap, in essence, is de-dollarisation’. Another way to implement the idea of de-dollarisation could be the creation by the New BRICS Development Bank of a fund of different currencies, in which a single currency would be adopted.
