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Iran, Russia use own currencies for trade

Saudi Arabia and India have also signaled moving away from the US dollar.

A photo taken on March 14, 2022, shows the logos of Visa, Mastercard and Russian Mir payment systems on bank cards in Moscow.
A photo taken on March 14, 2022, shows the logos of Visa, Mastercard and Russian Mir payment systems on bank cards in Moscow. — AFP via Getty Images

Iran and Russia have started trading in their national currencies. 

The Iranian ambassador in Moscow, Kazem Jalali, said last night that entities in the two countries have begun conducting trade in rials and rubles for the first time. The currencies were handled by the Russian Central Bank’s Mir system, the official Islamic Republic News Agency reported. 

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