Iran reveals special payment mechanism to meet payments and dues with Iraq

2019/3/14 11:08


The governor of the Central Bank of Iran Abdul Nasser Hamti, revealed a special payment mechanism to meet payments and dues with Iraq.
My concern is that canceling the dollar deal with other countries is an important outcome of Iran's new trade strategy.
"The economic and trade process between Iran and Iraqand neighboring countries such as Turkey, Azerbaijan and Afghanistan shows a shift in the composition of export goods and services and targeted commercial markets," he said on his return from Iraq, which he visited within the delegation of Iranian President Sheikh Hassan Rowhani.
Hamati pointed to restrictions on the financial exchange between Iran and Iraq because of the US embargo, which in turn held banking relations between the two countries' banks. However, payments and export receivables will be met through a special payment mechanism.
Rowhani told a press conference after arriving in Tehran on Wednesday after concluding his three-day visit to Iraq that the two countries had held talks on banking affairs, adopted the two national currencies in many exchanges and facilitated banking relations. The two countries also reached good understandings on security issues. As well as their views on many important issues