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 dollar 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 dollar?
I suspect the keyword there is "trying". If I had my own country, I'd love for the rest of the world to trade only in my currency too. But reality is another story. The only thing that would dislodge the US dollar is a massive political upheaval in the US that called the currency into question. And that would be an event that would wipe out trillions in wealth overnight. Nobody would want that.