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Iran’s government is considering replacing the U.S. dollar with Iraq’s dinar for mutual bilateral trade. The move is an attempt to further reduce the power of the U.S. dollar in Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual BAGHDAD (AP)For months, the United States has restricted Iraq’s access to its own dollars, trying to stamp out what Iraqi officials describe as rampant money The government of Iran is considering ditching the U.S. dollar for a $10 billion bilateral trade with Iraq. The two nations are aiming to strengthen their native currencies and American sources announced that it is possible that the American government will agree today with Iran's access to 10 billion dollars of its financial resources in A senior Iranian official has said that $10 billion worth of frozen Iranian funds in Iraq will be deposited at the Trade Bank of Iraq (TBI) and used to purchase goods that are exempted from The Biden administration may approve a sanctions waiver on Tuesday that will allow Iran to access at least $10 billion in previously frozen funds held in Iraq. The waiver Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between

Iran and Iraq Explore Ditching the U.S. Dollar for $10 Billion in Trade

Iran and Iraq are actively discussing replacing the U.S. dollar with their own currencies for a significant portion of their bilateral trade, potentially impacting the global financial landscape. Iran’s government is considering replacing the U.S. dollar with Iraq’s dinar for mutual bilateral trade. This ambitious plan centers around facilitating a $10 billion trade volume between the two nations, aiming to strengthen their economic ties and reduce reliance on the greenback.

The move is an attempt to further reduce the power of the U.S. dollar in Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual trade turnover between Iran and Iraq is substantial, and shifting away from the U.S. dollar could have far-reaching implications. The government of Iran is considering ditching the U.S. dollar for a $10 billion bilateral trade with Iraq. The two nations are aiming to strengthen their native currencies.

BAGHDAD (AP)For months, the United States has restricted Iraq’s access to its own dollars, trying to stamp out what Iraqi officials describe as rampant money laundering. This restriction has likely fueled the desire for both countries to explore alternative trade mechanisms. American sources announced that it is possible that the American government will agree today with Iran's access to 10 billion dollars of its financial resources in Iraq.

Furthermore, reports indicate that previously frozen Iranian funds in Iraq may play a crucial role in this initiative. A senior Iranian official has said that $10 billion worth of frozen Iranian funds in Iraq will be deposited at the Trade Bank of Iraq (TBI) and used to purchase goods that are exempted from sanctions. The Biden administration may approve a sanctions waiver on Tuesday that will allow Iran to access at least $10 billion in previously frozen funds held in Iraq. The waiver would allow these funds to be utilized for trade, bypassing the U.S. dollar system.

The potential shift away from the U.S. dollar represents a significant strategic move for both Iran and Iraq, reflecting a broader trend of de-dollarization in certain regions. Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual impact on regional economies and the global currency market remains to be seen.

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