Russia may switch to settlements in national currencies with Iran

Russia may switch to settlements in national currencies with Iran

Russia may launch settlements with Iran in national currencies in order to continue bilateral cooperation despite the US sanctions against Tehran, Russian Energy Minister Alexander Novak said in an interview with the Anadolu news agency on Sunday, TASS reports.

"We do not recognize [the US sanctions against Iran], which were introduced unilaterally without the approval of the United Nations Security Council. We will continue seeking mechanisms for cooperation, and one of them is the settlements for supplied goods in national currencies," Novak said.

According to Novak, who also co-chairs the Russian-Iranian intergovernmental commission, this step will enable Moscow to develop cooperation with Iran.

"This is not a new situation for us when sanctions are introduced against Iran. Until 2015, when they were lifted, we had cooperated with Iran and developed trade and economic cooperation," Novak stressed.

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