Russia and Iran finalize de-dollarization process : Analysis

Russia and Iran have shifted exclusively to trading in their national currencies, as confirmed by the Central Bank of Iran. This decision to abandon the US dollar in bilateral trade was made to counter “unjust sanctions.” The two countries finalized an agreement in December to use the ruble and the rial for trade, allowing the use of alternative financial platforms. The pairing of their national payment systems was also completed, enabling travelers to use domestic debit cards in either country. This move strengthens their financial cooperation amidst Western sanctions, with trade between the two countries growing. Iran has also been focusing on enhancing trade within the BRICS economic bloc after officially joining the group in January.

Analysis:
The article discusses how Russia and Iran have shifted to trading exclusively in their national currencies, the ruble and the rial, to counter “unjust sanctions.” The use of alternative financial platforms, pairing national payment systems, and enabling the use of domestic debit cards in either country are highlighted as examples of strengthening financial cooperation amidst Western sanctions. Additionally, Iran’s focus on enhancing trade within the BRICS economic bloc after joining in January is mentioned.

In evaluating the article, it is essential to consider the credibility of the sources cited, such as the Central Bank of Iran, to verify the accuracy of the information provided. The article seems to present facts about the shift in currency use between Russia and Iran. However, it is crucial to note that the article may have a bias favoring the perspective of Russia and Iran in response to Western sanctions.

Given the political landscape and the prevalence of fake news, the public’s perception of such information can be influenced by existing narratives or geopolitical tensions. It is important for readers to critically analyze the information presented and seek additional sources to gain a comprehensive understanding of the topic, including potential implications and broader implications of the financial cooperation between Russia and Iran.

Overall, while the article provides insights into the currency shift by Russia and Iran and their efforts to counter sanctions, readers should approach the information with a critical mindset and consider various perspectives to avoid misinformation and ensure a more nuanced view of the situation.

Source: RT news: Russia and Iran complete de-dollarization – Tehran