Iran is expanding its use of local currencies in trade, moving beyond Russia to include Belarus and Armenia. This development relates to Iran's trade with member states of the Eurasian Economic Union (EAEU). Settlement in Russian rubles is now a possibility for transactions with both Belarus and Armenia, in addition to existing arrangements with Russia. The move aims to reduce reliance on foreign currencies, particularly the US dollar, in international trade. This shift highlights growing economic cooperation between Iran and nations within the EAEU. The utilization of local currencies is seen as a step towards bolstering economic independence and facilitating smoother trade relations. This expanded use of the ruble signals a broader trend of de-dollarization in the region.

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