Iran can use EEU potentials to avoid sanctions: Analyst
By joining the Eurasian Economic Union (EEU), Iran aims to use its national currency in trade with the bloc, said an Iranian political analyst.
Masoud Sadr told Trend News Agency that under the sanctions imposed unilaterally by the US, regional associations create great opportunities for Iran.
He added that the use of national currency in trade is very important in light of the unilateral sanctions against Iran and the significance of financial and banking sector in global trade.
“Iran can use the potential of the EEU to avoid sanctions,” he said.
He added that Iran is interested in using the national currency in trade with EEU member states, as well as its neighbors, for example, Turkey, Iraq and India.
The EEU is comprised of Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. It is an international organization created with the aim of encouraging regional economic integration through the free movement of goods, services and people within the union.
The bloc was established in 2015, after it superseded the Eurasian Economic Community that functioned from 2000 to 2014. The union has an integrated single market of 183 million people and a gross domestic product of over $4 trillion.