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Iran faces challenges in int’l trade due to currency limitations – official

BAKU: It’s not easy to give up the use of the US dollar and use the national currency in Iran’s trade with other countries, Iranian co-chairman of the Joint Chamber of Commerce and Industry of Iran and Tajikistan Mohammad Hossein Roshanak said, Trend reports.

According to him, it will take Iran many years to use the national currency in trade with other countries. Abandoning the US dollar and using national currencies in Iran’s trade with Iraq and Afghanistan is possible.

Roshanak stated that despite Iran’s efforts, international currencies are being used in trade with Central Asian countries, including Tajikistan.

To note, certain problems in Iran’s foreign trade have arisen due to the sanctions imposed on Iran by the US and Western countries. Based on this, Iran is interested in using national currencies in foreign trade.

Additionally, the US imposed new sanctions on Iran in November 2018 in connection with Iran’s nuclear program. Over the past period, the sanctions have affected Iranian oil exports and
more than 700 banks, companies, and individuals.

Source: Trend News Agency