The central banker further explained that the decision „wouldn’t create major trouble“ for traders because the share of the greenback in Iran’s trade activities is already negligible.

„It’s been for a long time that Iran’s banking sector cannot use the dollar as a result of the sanctions,“ said Kasraeipour. As part of a trade embargo, US banks are banned from dealing with Iran.

„Considering that the use of the dollar is banned for Iran and traders are literally using alternative currencies in their transactions, there is no longer any reason to proceed with invoices that use the dollar as the base rate,“ Kasraeipour added.