Russia and Iran in Talks about Unified Digital Currency for International Settlement
According to reports, according to the Russian Satellite News Agency on the 17th, Valery Gartuk, chairman of the Russian Duma Competition Protection Commission…
According to reports, according to the Russian Satellite News Agency on the 17th, Valery Gartuk, chairman of the Russian Duma Competition Protection Commission, said that Russia and Iran were discussing the creation of a unified digital currency for international settlement, which was also raised during the visit of the Russian Duma delegation to Iran.
The delegation of the Russian State Duma discussed the issue of international settlement digital currency during its visit to Iraq
Interpretation of the news:
Keyword: Russia, Iran, Digital Currency
Russia and Iran are in talks about the creation of a unified digital currency for international settlement, according to Valery Gartuk, the chairman of the Russian Duma Competition Protection Commission. It was reported that this matter was also discussed during the visit of the Russian Duma delegation to Iran.
This proposed digital currency is a significant attempt by two countries to bypass the global hegemony of the US dollar, which currently dominates international trade. The use of a digital currency could minimize the impact of US sanctions and reduce reliance on the US dollar, which has often caused difficulties for both Russia and Iran.
The potential development of a unified digital currency by Russia and Iran could also prompt other countries to seek alternatives to the US dollar. This could lead to a major shift in the structure of the current global financial system, with implications for other countries, such as China and India, that are concerned about the dominance of the US dollar.
Moreover, the creation of a digital currency could boost economic cooperation between Russia and Iran. Given that both countries have been subjected to economic sanctions in recent years, the development of a digital currency could facilitate trade and investment activity, as well as make transactions more secure and transparent.
However, it is worth noting that the creation of a digital currency also comes with risks. One major concern is that it could be used for illegal activities, such as money laundering, tax evasion, and terrorist financing. Therefore, it will be important for both Russia and Iran to ensure that appropriate measures are in place to prevent such activities.
In conclusion, the ongoing discussions between Russia and Iran to create a unified digital currency for international settlement could have far-reaching implications for the global financial system. While the use of a digital currency may help reduce the impact of US sanctions, it also comes with risks. Therefore, it will be important for both countries to proceed with caution and conduct further research and development to ensure the security and legality of this proposed digital currency.
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