Cryptocurrency Transaction Between Russia and Iran to Avoid Sanctions of Embargo

According to reports in the Russian press, Russia and Iran that are a little out of touch with the current conjuncture in the world are; took the use of cryptocurrencies on their agenda for money exchanges like cryptocurrency transaction.  It is stated that they hoped to escape from the punishment could be interrupted by this move.

Mohamed Reza Pourebrahimi, the head of the Iranian government’s economic relations department, said cryptocurrency could be a great alternative for Iran; saying that embargo or potential punishment can be avoided and cryptocurrency can be used instead of the traditional SWIFT system.

Iran and Russia Agreed about Cryptocurrency Transaction

The Iranian diplomat said that the two sides agreed on this issue after their meeting with counterpart Dmitry Mezentsev in the Russian government. at the end of this process, the use of cryptocurrency could be possible.

Pourebrahimi, in his statement; The Russian government also stated that they share the same vision with them; said:

“They [Russia] share our opinion. We said that if we manage to move this work forward, then we will be the first countries that use cryptocurrency in the exchange of goods.”

As a result of the economic oppression in which Mezentsev was either involved or attempted to engulf the two nations, it was natural that the cryptocurrency trade was natural to come between these two sides. A delegation on the issue will come together in the Iranian capital Tehran. According to the Russian press, it is July 5th.

Pourebrahimi had previously stated that Iranian citizens were leaving the country for $ 2.5 billion to buy cryptocurrency.

Another Countries to Implement Cryptocurrency Transaction

In addition, Venezuela, another economically oppressive country, has released Petro, a petroleum-backed cryptocurrency in the past, and many authorities have said it is illegal. After Petro’s launch, Iran and Turkey are continuing their fieldwork to implement something like this. The CryptoRuble, which is claimed to be the national cryptocurrency of the Russians, is expected to go on the market in the middle of 2019.

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