Quote from: Gladitorcomeback on Today at 03:11:43 PM

Iran and Russia both are big source of oil, supplying oil to many countries. Both countries are economically strong and have a very good relationship. Russia is also part of BRICS while Iran will join in the Jan 2024.

Now news come out that both countries are trying to ditch Us doller for which they have now planned to trade in local currencies. what do you think this movement will help both countries? will It has any bad impact on US dollers?

Is Iran and Russia still trading with the US dollars? How can these two nations known for their anti-western stance still be trading in the US dollars now? They should have stopped trading with the USD a long time ago because the US has made them suffer from economic hardship because of sanctions.

However, it will be difficult to trade without the US dollars in the current global economic system. How many countries will be willing to accept the Iranian Rial or the Russian Ruble as payments for international trade? They will still have to convert these currencies to the dollar or other widely accepted currency for them to trade with other countries. This agreement to ditch the dollar will only benefit Russia and Iran's trade relationship. The most potent currency that would have competed strongly with the dollar was the proposed BRICS currency. It was expected that it would be launched this year, but sadly the conference in South Africa produced no significant impact.