Iran to switch to national currency in trade with Armenia

Iran will soon switch to using its national currency in trade with Armenia, Russia and Belarus, Kambiz Mirkazemi, a member of the Russian-Iranian joint Chamber of Commerce, said on Sunday.

According to him, Iran and Russia agreed to eliminate import duties on goods from both countries by March 2024.

“By March 2024, import duties between Iran and Russia will be lifted,” he said.

He noted that Iran would soon switch to its national currency in trade operations with Armenia, Russia and Belarus, and Iran’s customs borders would be fully open for imports of goods from these countries.