Iran Drops The US Dollars, Adopt Euro For International Transactions

The Iranian government has dropped the USD and instead will now use the Euro for its international transactions. According to the statement released by the Iranian government on Wednesday;

All ministries, governmental organizations and firms are obliged to choose euro as the main currency used in reporting and publishing statistics, information and financial data.


The decision was made on Wednesday after a meeting with the cabinet, in a response to what the Iranian officials described as economic plot hatched by the US and its allies to decrease the value of the Iranian currency, rial.

The Iranian currency had lost its values after the Trump announcement of US sanctions against Iran unless the so-called flaws of the 2015 nuclear deal are fixed. Iranian officials blame the US and its adversaries for the currency devaluation.

The new bill of adopting the Euro must be approved by the Iranian parliament and the Guardian Council before going into effect.