Brics Russia And Iran Opt For Non U S Dollar Settlements In Bilateral Trade

Last updated: June 9, 2025, 17:18

Brics Russia And Iran Opt For Non U S Dollar Settlements In Bilateral Trade

Iran and Russia have finalised

Iran, Russia to trade in local currencies instead of US dollar - state

While Western sanctions aimed to economically isolate Russia, the Kremlin has intensified efforts to persuade other nations to abandon the dollar in favor of local

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.

By

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By 2025, around 20% of oil trade was conducted in non-dollar currencies, showing a tangible shift by BRICS countries towards reducing dollar reliance. At the recent

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BRICS: Russia and Iran Opt for Non-U.S. Dollar

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BRICS made a deal to

BRICS made a deal to trade in their own currencies, cutting out the US dollar. Russia wants a multicurrency system to dodge sanctions and weaken dollar control.

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As part of the BRICS

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As part of the BRICS bloc, Iran and Russia are now making strides to reduce their reliance on the US dollar due to the heavy sanctions imposed by Western countries. In a