Turkey, Russia and Iran agree to trade in their local currency

Abdel Nasser Himmat, the president of the Central Bank of Iran said Turkey, Russia and Iran had agreed to do business with local currencies. Himmat said in a statement to the press, they would get together with directors of the central bank of Russia and Turkey soon and hoped that points agreed upon would be put into effect, swiftly.

Abdunnabir Himmeti also shared they had fruitful negotiations at the summit on Syria in Iran’s capital Tehran with the participation of President Recep Tayyip Erdogan and Russia’s President Vladimir Putin and added that agreements were reached on trade of oil, gas and basic products and banking issues.

Himmat also added all three countries had agreed to keep US dollar out of the system in trade among them and Turkey, Russia and Iran would trade using their own currencies over rates to be specified.