SANAA, Aug. 18 (YPA) – Member of the Supreme Political Council in Sanaa, Dr. Abdulaziz Saleh bin Habtoor, emphasized on Sunday the need to boost...
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The governor of the Central Bank of Iran (CBI) announced the readiness of Iran to launch a joint financial institution among the member states of BRICS. Iran and Russia are determined to ditch the US dollar and use their national currencies instead, Mohammad Reza Farzin said. Speaking to a number of Russian economic activists inSt. Petersburg, the CBI governor emphasized the need for developing banking cooperation between Iran and Russia, taking advantage of the capacities ofregional financial institutions, using local currencies to avoid the cruel sanctions imposed against the two countries and reducing the dominance of US dollar infinancial transactions in the international arenas. Farzin called for launching a financial institution similar to the Financial Action Task Force (FATF) among the BRICS member states and emphasized that Iran is ready to provide Russia with the necessary technical facilities for Russia’s membership in the Asian Clearing Union (ACU). The high-ranking officials of Iran and Russia are determined to use the local currencies in bilateral transactions, he said, adding that if Iran uses ruble, yuan, dirham and rial in transactions between Russia, Iran, China and other countries, a major barrier would be removed in bilateral trade. The ACUis agood platform forditching theUS dollar in financial transactions among the member states, he said. Currnently, India and Pakistan are members of the union,Belarus has recently raised its membership at the union, and Russia has been invited to joint the union, the CBI governor noted.
SANAA, Aug. 18 (YPA) – Member of the Supreme Political Council in Sanaa, Dr. Abdulaziz Saleh bin Habtoor, emphasized on Sunday the need to boost...
Approximately $2.3 billion in U.S. dollar and euro banknotes have been shipped to Russia since the United States and the EU imposed a ban on exporting...
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The Speaker of the ECOWAS Parliament, Memounatou Ibrahima, has called on the bloc’s member states to scale up its funding for the institution to...
Agency Report The Speaker of the ECOWAS Parliament, Memounatou Ibrahima, has called on the bloc’s member states to scale up its funding for the...
The West does not want citizens of the United States and the European Union to listen to Russian President Vladimir Putin tell the unpleasant truth...
The State Bank of Việt Nam and the Bank of Laos have jointly organised a conference to share experience in promoting the use of respective domestic...
Wednesday morning, the day before Thanksgiving, Mae awoke, set her hair in curlers and switched on her laptop. The screen froze and a message...
The ongoing Russian-Ukrainian war and the evolving security situation in the Red Sea, due to attacks by the Yemeni Houthi movement on ships in this...
Azerbaijan has officially applied to join BRICS, the country’s Ministry of Foreign Affairs reported. The intergovernmental organization,...