At SCO, Iranian President calls for removal of dollar in transactions to form fair international system
Ebrahim Raisi on Tuesday said the Western hegemonic powers have jeopardised prosperity and the principles of fair trade by resorting to economic coercion and sanctions as he called for the removal of the dollar in transactions to form a fair international system. Raisi made the remarks while addressing the 23rd meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of State (CHS) presided by Prime Minister Narendra Modi via a video link as Iran became the 9th permanent member of the Beijing-headquartered economic and security bloc.
"...the Western hegemonic powers, by resorting to economic coercion and sanctions, have jeopardised the security and economic prosperity and the principles of fair trade in the world," Raisi said, in an apparent reference to sanctions imposed by the US-led West on Iran and more recently on Russia and China. «Relying on the experience of the past decades, it is now quite evident that, along with militarism, what forms the basis of the Western domination system has been the dominance of the dollar and therefore any attempt to shape a fair international system requires the removal of this instrument of dominance in intra-regional relations,» he was quoted as saying by the official Irna News Agency.
Raisi said that expanding the use of national currencies in international trade and financial exchanges between the SCO member states and their business partners requires more serious attention. «Iran welcomes any move to introduce financial payment instruments based on modern technologies to facilitate financial exchanges between members and business partners, especially in multilateral frameworks,» he added.
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