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?
This topic has been discussed for many times in many recent discussions, especially in this board of the forum. With just a simple search, you would have found many answers to your questions, or they could be considered explanations for what is happening.
Despite the difference in opinions on the issue, you can summarize the positions into three types: A type that believes that the power of the dollar cannot be affected by the emerging international alliances and that it is still here to stay. The second type dreams of an era without the dollar, and that this can be achieved soon. The third group is more logical in its analysis and leans towards the idea that monetary systems can coexist, meaning that other currencies can replace the dollar in many functions.