Russia and Iran rely on rial and ruble, ‘weaponized’ dollar to lose importance

As reported by the Iranian state news agency IRNA, the Islamic Republic of Iran and the Russian Federation not only want to double their bilateral trade to the equivalent of US$8 billion in the short term and even quadruple it to US$15 billion in the medium term but also to dispense with the U.S. dollar and other foreign currencies in the process.

Instead, these trade transactions will be conducted in the respective national currencies, the. . .