Stop the dollar deal between Iraq and Iran

Stop the dollar deal between Iraq and Iran

2018/9/2 0:16

Stop the dollar deal between Iraq and Iran[Ayna-Follow]
President of the Iranian Chamber of Commerce of Iraq Yahya al-Ishaq announced the suspension of the US dollar deal between the two countries in terms of trade exchanges, which are taking place between the two countries.
“The dollar will be replaced by other currencies such as the euro, the Iranian riyal and the Iraqi dinar,” he said.
“Most of the trade exchanges will take place in alternative currencies,” the head of the Iranian-Iraqi Chamber of Commerce said in a press statement. “Another part of the trade between Iranian exporters and Iraqi traders will be through a trade-off system or in consensual forms between the parties.”
He said that “the volume of transfer of funds between Baghdad and Tehran through banks, very few, despite the existence of transactions between the two countries worth 8 billion dollars.”

“The resolution of banking issues between the two countries should be one of the priorities of the main Iranian economy, in order to remove obstacles to the establishment of a joint Iranian-Iraqi bank,” Yahya al-Ishaq said.
“Iraq is Iran’s second largest trade partner after China,” he said, adding that “Iran’s exports to Iraq are very different from Iranian exports to China.”
Prime Minister Haider al-Abbadi said in August that Baghdad rejects any economic sanctions against any country, especially neighboring countries, pointing out that it is a fundamental and strategic mistake.
Earlier Abadi stressed his country’s commitment not to deal with the US dollar with Iran, and not with US sanctions, stressing the position of Iraq, which refuses to impose sanctions.
Washington has imposed sanctions against Iran in several areas, including bank transfers in US currency, metals, aluminum, steel and others, while energy and oil are in November.
The United States withdrew from the nuclear deal with Iran in May, announcing the resumption of severe economic sanctions against Tehran, while the local Iranian currency has seen a significant devaluation of its value against foreign currencies.

alliraqnews.com