TEHRAN, Iran, July 15. Iran and Russia trade based on national currencies of ruble and rial will resolve obstacles in Iran's foreign trade and create a better situation for import and export, Hadi Tizhoush Taban chairman of Iran- Russia Joint Chamber of Commerce told Trend.
The heads of the central banks of Russia and Iran have recently agreed to abandon the dollar in mutual settlements by using national currencies, rubles, and rials, in all transactions.
Governor of the Central Bank of Iran Ali Salehabadi said a series of major banking agreements have been reached between Tehran and Moscow, including those concerning the use of national currencies in trade.
"The implementation of the plan and central bank's decisions is important, if the plan is correctly implemented the trade will accelerate between the two countries and it would not be a mere agreement," Taban said
He said that while trade between the two countries could relatively improve but it is not expected to be a significant change since Iran's products require certain standards, quality and prices to compete with regional rivals and proper for the destination market.
The official underlined that the economic stability in Iran could create an opportunity for long term planning and development of transportation and infrastructure and would have a positive change in foreign trade.
The Iran-Russia Joint Chamber of Commerce has recently stated that Iran’s exports to Russia have increased since the outbreak of the Ukraine conflict