Iran begins to circumvent US sanctions with the help of cryptocurrency

13.09.2022, 14:55 easternherald.com

Tehran is trying to circumvent US sanctions that have damaged the Iranian economy, this was reported on August 9 by Reuters with reference to the private agency Tasnim. The republic’s policy is aimed at abandoning the use of the “dollar-dominated” financial system and moving to trade with other countries that have fallen under the sanctions, such as Russia. What kind of cryptocurrency was used by Iran is not specified in the material. Iran has been under US sanctions for several decades. In particular, the import of almost all Iranian goods is banned, including products from the country’s oil, banking and shipping sectors.