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    Shah’s Grand Daughter Weds American In New York

    Shah’s Grand Daughter Weds American In New York

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    Fruit Peddler To Hang For His Protest Poetry From Buying Texas Land

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    Storms Pound Many Parts Of Iran, Killing Nine

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    Iranian Student In Alabama To Self-Deport Despite Withdrawal of Initial

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    Novel Tells Story Of Five Women In A Family That Leaves Iran For America

    Canada Party Boss Says Iran’s Leaders Are ‘Liars’

    Canada Party Boss Says Iran’s Leaders Are ‘Liars’

  • Diaspora
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    Banks Must Keep More Money On Hand

    Banks Must Keep More Money On Hand

    Russian Says Iran Watermelons Unsafe

    Russian Says Iran Watermelons Unsafe

    Iran Not To Be Self-Sufficient In Wheat This Year

    Iran Not To Be Self-Sufficient In Wheat This Year

    Opec Pumps More Crude, Just When Its Not Needed

    Opec Pumps More Crude, Just When Its Not Needed

    Lithium Deposits Being Hyped By Some in Iran

    Lithium Deposits Being Hyped By Some in Iran

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    Despite Trump, Iran Sells China More Oil

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    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    The Oil Patch

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    Resolution in US House Would Very Quietly Endorse Mojahedin-e Khalq

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    Subsidized Currency Stays

    Crypto Crackdown Seen as Fueling Rial Collapse

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Russia, Iran ax US dollar

May 10, 2024

Tehran and Moscow have signed an agreement to totally eliminate the US dollar from their bilateral trade, the Central Bank of Iran announced. The two countries have made numerous announcements in recent years about reducing their use of the dollar, but this announcement is supposed to lead to the complete elimination of the dollar.

Iran has presented the development as a great triumph by the Islamic Republic over the United States and as inflicting a great defeat on the dollar. Actually, however, the US has for years sought to deny the Islamic Republic all access to the dollar. And by virtue of sanctions imposed on Russia after its invasion of Ukraine, Washington has also tried to deny Russia access to the dollar.

So, the new agreement actually shows the two countries bowing to US policy. The Central Bank of Iran did not say if private traders would have any option to use other currencies if they wished.

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