Russia and Iran say goodbye to dollar in mutual trade

Moscow and Tehran are no longer using the dollar in mutual trade transactions and have shifted to national currencies thanks to previously signed agreements between the two countries in the financial sector, Governor of the Iranian Central Bank Mohammad Reza Farzin said.

"We have entered into a currency agreement with Russia and fully removed the dollar. Now we only trade in rubles and rials," Farzin said.

He also mentioned that the financial authorities of the two countries have agreed on the exchange rate to be used for foreign trade transactions.