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Full details of the proposal to trade in dinars instead of dollars between Iraq and Iran
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Baghdad today - Baghdad
The economic advisor at the Iranian embassy in Baghdad, Abd al-Amir Ribhawi, revealed in an interview with the American network The Cradle today, Wednesday, that Baghdad had submitted a proposal to the Iranian authorities to establish an economic system alternative to the dollar.
Rabbawi said, according to what was translated by (Baghdad Today), that Baghdad proposed to Tehran the establishment of an economic system in cooperation between the central banks of the two countries that depends on the Iraqi dinar as a currency for trade exchange instead of the US dollar, stressing that "the aim of the proposed system is to reduce American pressure," referring to To the sanctions imposed by Washington on Tehran and preventing the exchange of dollars between Iran and Iraq.
"According to the proposed system, the Baghdad government will offer the Iraqi dinar to Iranian merchants and businessmen as an alternative to the dollar," Rabhawi added, noting that the Iranian authorities are now considering initiating the implementation of the project given Iraq's "clear reduction of its dependence on the dollar."
The newspaper pointed out that the Iraqi economy "suffers from the dollar's control over its capabilities," stressing that US sanctions on countries, including Iran, have weakened Iraqi trade with those countries, which forced Baghdad to use the Chinese yuan in its dealings with Beijing and to obtain "financial stocks" from Foreign currencies next to the dollar, according to their description.
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