Trading in Nat'l Currencies Needed to Counter US Sanctions

Russian Ambassador to Iran Levan Dzhagaryan said trading between Iran and Russia in their national currencies is an important step to counter the unilateral sanctions of the United States.

"Currently 25 percent of trade exchanges between the two countries are being conducted in rial and ruble and this trend will continue," Dzhagaryan said.

He pointed to devising Special-Purpose Vehicle (SPV) by Europe, and said, "The European countries just talk about establishing such a mechanism, but they have not yet implemented anything."

In relevant remarks in late November, Energy Minister Reza Ardakanian, on his way back to Tehran before leaving the Russian capital city of Moscow, said that Iran and Moscow are determined to change the US sanctions against the two countries into opportunities.

The US sanctions against Iran and Russia could become unique opportunities for expanding cooperation between Tehran and Moscow, Ardakanian said before leaving Moscow where he participated and jointly with his Russian counterpart Novak headed the Iranian-Russian Joint Commission.

Ardakanian told reporters that relying on the very good human capacities, natural resources, and considering the determination of the leaders of the two countries on the development of cooperation; sanctions can be used as a maximum opportunity. "Iran and Russia could exploit the sanctions."

In another part of his speech, he announced that the 15th session of Iranian-Russian Joint Committee would be held in Tehran in the second half of February.

Regarding his visits to Moscow, Ardakanian said, "It was a good opportunity to take part in the Iranian-Russian Joint Commission with Russian Energy Minister Alexander Novak who headed the Russian side."

"We agreed to hold the 15th meeting of the joint commission for economic and commercial cooperation and the second conference of Iran and the northern Caucasus on cooperation prospects as soon as possible in Iran," Ardakanian said.

The Iran-Russia joint commission includes 15 working groups cooperating in the fields of transportation, standard, banking, tourism, sport and youth, investment, nuclear, higher education, industry, Eurasian Economic Union, customs, health, culture, energy and mining.

source: FARS News Agency