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Iran trade shrinks as leaders push reduced dollar use

Iran’s president said sanctions are weighing on both imports and exports, compounding concerns over trade contraction.

Reported · Written up by our desk · Trade & Tariffs

CNBC Markets reports that Iran’s President has said the country’s trade is falling, attributing the pressure to sanctions that are hitting imports and exports. The remarks were made as Iran faces ongoing constraints on cross-border transactions.

According to CNBC Markets, Iran’s supreme leader, Ayatollah Ali Khamenei, urged the country to reduce reliance on the US dollar, framing it as a way to respond to the effects of sanctions on the economy.

CNBC World highlighted the same developments, noting that the push away from the dollar is occurring alongside a visible slowdown in trade activity, with imports and exports both under strain.

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