Tehran and Baghdad decided to abandon the US dollar in bilateral trade, raising concerns among market participants.
“US dollar has been removed from the list of currencies used by Iran and Iraq in their trade transactions and they are using Iranian rial, euro and Iraqi dinar for financial transactions,” the Iran-Iraq Joint Chamber of Commerce stated.
Meanwhile, it will be impossible to give up on foreign currencies in settlements, so Iran and Iraq opt for the euro. In addition, the two countries will adopt barter operations, according to the official.
However, this is unlikely to somehow affect the United States, where people have a difficulty distinguishing Iran from Iraq, seeing them virtually as the same thing.
