Iran against US Dollar

Iran against US Dollar

Iranian President Ebrahim Raisi raised the issue of concern pointing out the use of dollars in making transactions. He said that removal of dollar in transactions is necessary to establish a fair trade system.

The President made the remarks saying Western hegemonic powers have disturbed the fairness and equality in world trade. It ruined the system of fair trade by resorting to economic coercion and sanction.

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The Iranian President made this statement while addressing the 23rd meeting of Shanghai Cooperation Organization (SCO) through a video link. He talked to all the members as Iran became the ninth permanent member of SCO.

Western dominated system

While talking to the conference he said, “Relying on the experience of past decades, it is now quite evident that, along with militarism, what forms the basis of Western dominance system has been the dominance of the dollar”.

He said, “Any attempt to shape a fair international system requires the removal of this instrument of dominance in intra-regional relations“.

He focused on importance of using other currencies in the international trade to balance and manage the financial exchanges between all the countries and their business partners.

President Ebrahim Raisi also ensured that Iran’s presence in SCO will provide a positive impact and platform for achieving collective security, unity and sustainable developments for the regions.

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The SCO Summit was also attended by leaders of Russia, Pakistan, China, Uzbekistan, Tajikistan, and Kyrgyzstan.

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