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WORLD NEWS | Iranian president calls for cancellation of dollar deal at SCO for fair international system

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Streaks of light seen in California. (Photo credit: Video Grab)

TEHRAN/NEW DELHI, July 4 (Xinhua) — Iranian President Ibrahim Raisi said on Tuesday that resorting to economic coercion and sanctions by Western hegemons endangers prosperity and the principles of fair trade, and called for the removal of the dollar from transactions in order to form trade liberalization . fair international system.

Lacey was speaking at the 23rd video conference of the Shanghai Cooperation Organization Heads of State Council chaired by Prime Minister Modi, with Iran becoming the ninth permanent member of the Beijing-based economic and security organization. group.

Read also | The Pakistani rupee strengthened by Rs 15 against the US dollar in early trade.

“…through economic coercion and sanctions, Western hegemons have jeopardized world security and economic prosperity, as well as the principles of fair trade,” Lacey said, apparently referring to sanctions imposed by the U.S., led by the United States. The West is on Iran, and more recently on Russia and China.

“Based on the experience of the past few decades, it is now clear that apart from militarism, it is the dominance of the dollar that forms the basis of the Western ruling system, and therefore any attempt to shape a fair international system needs to eliminate the dominance of the dollar,” the official Iranian news agency He was quoted as saying.

Read also | SCO summit 2023: Pakistani PM Shebaz Sharif says must fight terrorism ‘hydra monster’ with determination and resoluteness.

Laisi said that expanding the use of national currencies in international trade and financial transactions between SCO member states and their business partners requires more serious attention.

“Iran welcomes any initiative to introduce financial payment instruments based on modern technologies to facilitate financial exchanges among member states and business partners, especially within multilateral frameworks,” he added.

Laisi said that the Shanghai Cooperation Organization has more than 60% of the population in Eurasia and more than 40% of the world’s population. The huge capacity endows the organization with broad potential to develop trade and deepen various forms of economic cooperation. .

He also thanked Prime Minister Modi for hosting the summit and said Iran’s membership in the group would bring historic benefits.

“Iran believes [the SCO] is a growing organization with significant metrics and capabilities and a privileged position, and the officer benefits [accession] Iran will go down in the history books,” he said.

He also expressed hope that Iran’s membership in the SCO will provide a platform for collective security, sustainable development and unity among nations.

Attendees at the virtual summit under the Indian presidency include the leaders of Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Pakistan and Iran.

Formed in Shanghai in 2001, the Beijing-based Shanghai Cooperation Organization is an economic and security bloc comprising China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India and Pakistan.

(This is an unedited and auto-generated story from a syndicated news feed, the latest staff may not have modified or edited the body of content)


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