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BRICS shock: Russia and Iran throw out the dollar – ruble and rial rule!
Russia and Iran, BRICS members, replace the US dollar with rubles and rials in trade, circumventing sanctions.
BRICS shock: Russia and Iran throw out the dollar – ruble and rial rule!
Attention, currency war underway! The BRICS nations Russia and Iran are sending a huge signal: the US dollar will be ignored for trade between these countries. 96% of all cross-border transactions are now carried out in rubles and riyals. According to the Governor of the Central Bank of the Islamic Republic, Mohammad Reza Farzin, the two countries have completely abandoned the US currency. More details on this topic can be found in a detailed report on watcher.guru.
Change was announced in July: a currency agreement between Russia and Iran sealed the end of the dollar. The Russian Mir payment system replaces the SWIFT network and even allows riyal withdrawals from Russian ATMs. The Kremlin is circumventing the White House's sanctions by encouraging other countries to also ignore the dollar. De-dollarization is gaining momentum around the world, with many developing countries further fueling the currency exchange fire. Are we facing a currency earthquake that will cause the dollar to falter? A topic that makes us all look forward to the future.