December 22, 2019 by Clementine
While the economic sanctions that the u.s. rained down from everywhere, Iran, one of the main victims of the sanctions, is seeking currently a way to get rid of the dependence on the u.s. currency by offering to create a crypto-currency for the muslim countries.
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A plan is strongly welcomed
Speaking at the summit which was recently held in Malaysia, the iranian president, Hassan Rouhani, would have submitted to his peers the idea of creating a crypto-currency to settle trade transactions between islamic countries, as a substitute for the u.s. dollar.
He reiterated that the muslim world should put measures in place in order to liberate themselves from the domination of the us dollar as well as the plan’s financial correspondent.
He believes that it is high time that Americans cease to evoke economic sanctions to legitimize its hegemony growing, and to continue the bullying of other Nations.
Present at the summit, Mahathir Bin Mohamad, the malaysian prime minister was immediately acceded to this proposal.
“It seems that when we use the u.s. dollar, there are penalties that can hinder economic development. We can use our own currency or a common currency “, has he supported.
As for the Turkish president, Recep Tayyip Erdogan, he thinks that the muslim countries would be well advised to focus on the mode of financing of islamic countries.
A hard blow for the u.s. dollar
While the share of the dollar in the regulations of the foreign trade lags already a considerable decline in recent years, we might still expect a steep fall of the currency in the time to come.
In fact, many countries began to caress the idea of dropping the u.s. currency to embrace other alternatives, including crypto-currencies.
In addition to the muslim countries, the countries members of the BRICS, in particular Brazil, Russia, India, China and South Africa, have also proposed the ingenious idea to create a crypto-currency as legal tender for trade within the regional integration, rather the last month.
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Clementine
Passionate about the universe geek, Clementine finds the news more interesting and involved in their drafting.