Iranian currency hits record low as EU threatens further sanctions

The New York federal bank has been enforcing stricter controls on international transactions by Iraqi commercial banks to hinder Iran from accessing dollars

Iran Central Bank and Tehran Stock Exchange launch trade in Russian rubles

Earlier this week, Moscow expressed interest in dropping the US dollar for their bilateral trade with Iran

Iran and Russia ready to drop US dollar in bilateral trade: Kremlin

President Ebrahim Raisi and Vladimir Putin have moved to increase cooperation in order to overcome unilateral US sanctions

Iran soon to be officially admitted into the SCO

The SCO was founded in 2001 in Shanghai by the leaders of Uzbekistan, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and China

Iran-Russia interbank agreement soon to be implemented, official announces

The pursuit of inter-banking agreements comes amid efforts by Tehran and Moscow to strengthen their economies and bypass western sanctions