Iran, Russia, Turkey Discussed Non-Dollar Trade at Summit in Tehran - Reports

Iranian Central Bank governor Abdolnaser Hemmati has discussed with Turkish and Russian representatives at the recent trilateral summit of the Syrian ceasefire guarantor states the possible replacement of the US dollar by national currencies in trade, local media reported on Sunday.

According to the Iranian Labour News Agency (ILNA), the use of national currencies is needed to reduce dollar's influence on the economies and trade of the three countries.

"We have decided to proceed with further work in light of the reached agreements at a meeting with the Russian Central Bank governor in Moscow," Hemmati was quoted as saying by the news outlet.

Previously, Russian Foreign Minister Sergei Lavrov has described the US dollar as a lever of pressure, saying that Washington uses when it "wants to punish someone."

Earlier, Erdogan called the Turkish lira's recent tumble a "currency plot" and announced Ankara's readiness to refuse the dollar in the country's trade with its partners.

Meanwhile, Tehran is turning to gold as a viable alternative to the dollar.

On Friday, the leaders of the Syrian ceasefire guarantor states — Iranian President Hassan Rouhani, Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan — held a trilateral summit in the Iranian capital of Tehran. The situation in Syria's Idlib and peace settlement process in Syria have been at the heart of discussions.