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FinancialNews
03-06-19
Iranian-Turkish anti-sanctions financial mechanism to be set up
(MENAFN) Iranian Ambassador to Turkey Mohammad Farazmand declared a plan for a joint bank to be set up with an aim to tackle U.S. sanctions.
Turkey and Iran are currently in efforts for an anti-sanctions financial mechanism to be developed for safeguarding trade and economic cooperation between the two countries, the ambassador affirmed.
An innovative mechanism is necessary since Iran exports a massive amount of gas to Turkey as it looks to facilitate financial dealings through Iranian-Turkish national currencies, the envoy noted.
Speaking to Mehr news agency, Farazmand added: "we are on the process of establishing a joint bank, as well."
MENAFN0306201900450000ID1098601236
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