De-dollarization gaining momentum fast: Chinese diplomat
China’s top diplomat in Iran says efforts by developing countries to ditch the US dollar are gaining momentum.
In an interview with Iran’s Tasnim news agency published on Monday, Ambassador Chang Hua said that the US dollar is in its weakest position ever as many countries have lost confidence in the currency.
That is a result of the United States using the dollar as a means of economic bullying, said Chang, adding that many developing countries are seeking to distance themselves from the dollar-based international trade.
The comments come amid growing efforts by Iran and Russia, as two major economies that are subject to US sanctions, to reduce the share of the dollar transactions from their trade ties.
Media reports published earlier this month suggested a top government official from Iran and Russian President Vladimir Putin had discussed at length in a meeting in Moscow in February the need to shift to other currencies in bilateral trade.
China, a major ally of Iran and Russia, and other major economies in Asia, including India and Malaysia, have declared their support for such de-dollarization projects.
Chang said that China will continue to engage in bilateral and fruitful cooperation with Iran within the framework of international laws.
He once again reiterated his country’s opposition to unilateral sanctions imposed by the United States on Iran.
EU announces sanctions on Iran’s shipping lines
Iran FM slams reported EU plans to impose sanctions on IRISL
Time for Iranian-Arab economic convergence
VIDEO | Press TV's news headlines
VIDEO | Intl. conference honors martyred journalists in Gaza, Lebanon
VIDEO | Israel relies on attacking civilians, urban areas to pressure Hezbollah
VIDEO | Suppressing voices of truth
VIDEO | Martyrs of Islamic Jihad movement laid to rest in Damascus
VIDEO | Gazans produce charcoal to get warm
Hezbollah retains ‘Fire for Fire’ strategy; takes Tel Aviv under ballistic missile barrage
Iran, Azerbaijan top brass underline military, defense cooperation
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
