Iran has proposed creating a new currency to do trade with China, Russia, India, Pakistan, and other members of the Shanghai Cooperation Organization (SCO).

Tehran sent a letter to the SCO in early 2022 suggesting that a new currency could help the Eurasian nations strengthen their bilateral trade with each other, according to Iran’s foreign minister for economic diplomacy, Mehdi Safari.

A Eurasian currency would also make it easier for these countries to circumvent unilateral Western sanctions, which are illegal under international law.

The post Iran proposes new currency for trade with China, Russia, India, Pakistan in Shanghai Cooperation Organization appeared first on PopularResistance.Org.

This post was originally published on PopularResistance.Org.