Monday, February 12, 2018

Two oil producing countries hit by U.S. economic sanctions working on blueprint for bypassing dollar and using bi-lateral trade

Russia and Iran are two counties who have long been targets of U.S. economic aggression for most of a decade.  And in fact they are also probably only two of a handful of nations powerful enough in their alliances to keep Washington from taking them out as they did Iraq, Afghanistan, and Libya.

But still, the U.S.'s ability to inflict economic harm against them or any other nation is a real threat, especially as long as America holds the keys to the unipolar reserve currency.  And with this in mind, both Iran and Russia believe that the counter to U.S. hegemony is simply to find a way to bypass the need for dollars altogether.

And this is exactly what they are in talks right now to do.

Moscow and Tehran are continuing talks on using national currencies in trade, according to Russia’s Ambassador to Iran Levan Dzhagaryan. 
He told TASS that “central banks” working groups have met several times. 
“As far as we can understand, negotiations are underway,”Dzhagaryan said.
“We hope that in 2018 we shall achieve progress and will be able to use widely the favorable conditions we may have if we manage to approach final decisions,” he added. 
Last year, during the visit of Iranian President Hassan Rouhani to Moscow, the two sides agreed to continue cooperation aimed at stabilizing the global energy market and ensuring sustainable economic development. They said they will be working on favorable conditions for using national currencies in settlements. Moscow and Tehran have also discussed developing inter-bank cooperation between the two countries and ensuring an increase in trade and investments. 
In November, Iranian Supreme Leader Ali Khamenei said that the best way to beat US sanctions against Iran and Russia is joint efforts to dump the American currency in bilateral trade. 
He told President Putin that by using methods such as eliminating the US dollar and replacing it with national currencies in transactions between two or more parties, the sides could “isolate the Americans.” – Russia Today
If successful, an Iranian- Russian trade partnership could create the blueprint for all nations to be able to bypass the dollar in global trade, and eliminate a powerful tool that Washington uses to keep nations in line under dollar hegemony.

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