Ruble accepted in Iran’s trade with Russia, Belarus, Armenia
TEHRAN, Sep. 08 (MNA) –The use of local currencies in Iran’s trade with members of Eurasian Economic Union (EAEU) is not limited to Russia, and there is also the possibility of settlement in rubles in transactions with Belarus and Armenia.
A member of Iran’s Chamber of Commerce Kambiz Mirkarimi made the remarks in an interview with Mehr news agency correspondent, emphasizing, “In addition to carrying out trade with Russia in ‘ruble’, Iran’s trade became possible with the said unit of currency with the Republic of Belarus and the Republic of Armenia.”
Regarding the method of transferring and receiving money in Iran’s trade with Russia and the member states of the Eurasian Economic Union (EAEU), Mirkarimi stated, “Currently, money transfers to the EAEU member states do not have technical problems and credits are also being opened. The ruble is approved by many merchants and they are doing their trade activities with the ruble.”
He, who is also a member of Iran-Russia Joint Chamber of Commerce, pointed out, “As long as we have a dual-rate currency, if the gap between the rates is around five to six percent, it will not cause any particular problem. However, when this gap increases, economic activists will again withdraw from bank capacities and go for high-risk capacities, which is not suitable for the economy.”
In response to the question of whether the use of local currencies is only possible in trade between Iran and Russia, Mirkarimi underlined that this mechanism is not limited to Russia. Belarus and Armenia also accept this method of trade with Iran.”
