Iran Accelerates De-Dollarization in Response to Trump's Immigration Ban

Don't mess with Persia

Tue, Jan 31, 2017
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It's on.
It's on.

Iran is less than amused by Trump's 90 day immigration ban designed (allegedly) to reduce the threat of terrorism on U.S soil.

And to add insult to injury, Saudi Arabia (Iran's arch nemesis, and a proud exporter of Takfiri terrorism) is not included in the ban. Never put Persia in a corner.

Foreign minister Mohammad Javad Zarif has already made his feelings on this matter quite clear. But Tehran is responding with more than just pointed rebukes.

Valiollah Seif, the governor of the Central Bank of Iran, has announced that Tehran will stop using the dollar in all official financial and foreign exchange reports. As PressTV reports:

Seif also said that the move would take effect from the start of the new fiscal year on March 21, 2017, the media reported.  

Iran’s emerging switch to non-dollar currencies comes at a time that outrage is building up in the country over an executive order by US President Donald Trump to ban Iranians from entering the United States.

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Of course, Iran has been moving away from the dollar for a long time. Exactly one year ago, Tehran announced that it would gradually ditch the U.S. dollar for use in foreign trade and that Iran would begin to replace the dollar with other currencies.

Iran's decision to embrace "de-dollarization" has already been felt in the oil trade. Last year, Tehran announced that all new and outstanding oil contracts must be paid in euros.

Iran is in good company, of course. BRICS nations (especially Russia, China and India) are increasingly trading in their own currencies.

And let's not forget that Tehran has expressed interest in a free trade agreement — as well as potential membership — with the Moscow-led Eurasian Economic Union. Iran is increasingly being pulled into Moscow's economic and political orbit.

Goodbye, dollar!

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