Iran calls on Thailand to ditch dollar in bilateral ties
Baku, Azerbaijan, Apr. 30
By Khalid Kazimov – Trend:
Iran’s Economy Minister Ali Tayebnia has called on Thailand to carryout bilateral trades in local currencies and euro instead of US dollar. He said that the two countries’ banks are capable of opening accounts in local currencies, Ibena (Iranian banks and economy news agency) reported.
Therefore the two countries’ banks can settle the transactions using euros or local currencies, Ali Tayebnia added. Iran’s visiting minister made the remarks at a meeting with his Thai counterpart in Bangkok.
Tayebnia further called for expansion of banking ties between the two countries and said there is no serious obstacle against expansion of ties following the implementation of the Joint Comprehensive Plan of Action (JCPOA aka nuclear deal). He also expressed interest in opening branches of banks from both countries in Iran and Thailand.
Although the nuclear related sanctions on Iran were lifted following the implementation of the Joint Comprehensive Plan of Action on January 16, Iran still has difficulty establishing banking ties with leading international banks as they are worried about running afoul of US regulations.