Turkey, Russia, Iran ‘to use local currencies for trade’

Turkey, Russia, Iran ‘to use local currencies for trade’

TEHRAN - Anadolu Agency
Turkey, Russia, Iran ‘to use local currencies for trade’

Turkey, Russia and Iran have agreed to use their local currencies for trade between the three countries, according to Central Bank of Iran Governor Abdolnaser Hemati on Sept. 7.

Hemati told press members that a meeting with the administrators of the Turkish and Russian Central Banks is expected in the near future and he hopes the agreed topics will rapidly come into effect.

The governor termed the meetings in Tehran that saw the participation of Russian President Vladimir Putin and Turkish President Recep Tayyip Erdoğan during the trilateral summit on Syria as “fruitful.”

He said they had agreed to trade petroleum, gas and fundamental products, and also agreed on some banking issues.

The three countries agreed the United States dollar should not be used for trade, Hemati said.

He added that transactions would be made over designated currency exchange rates.

A trilateral summit on Syria was held in Tehran on Sept. 7 by Turkish, Russian and Iranian leaders.

trade on local currencies, Turkish Lira, ruble, rial