Iranian President Calls for De-Dollarization at SCO Summit
Iran’s President Ebrahim Raisi emphasized the need to de-dollarize at the 23rd virtual summit of the Shanghai Cooperation Organisation (SCO) Council of Heads of State. He highlighted the importance of establishing a fairer world order where the U.S. dollar is not the only dominant currency. Raisi stated that Western powers have jeopardized security, economic prosperity, and fair trade through economic coercion and sanctions. He called for the removal of the dollar’s dominance in intra-regional relations and stressed the need for expanding the use of national currencies in international trade. Additionally, Raisi mentioned that the SCO member countries can promote unity and peace through civilization based on ethics, spirituality, justice, rationality, and respect for human dignity.
Key Points:
- President Raisi calls for de-dollarization at the SCO summit.
- He emphasizes the importance of establishing a fairer world order.
- Raisi highlights the negative impact of Western hegemonic powers on security and economic prosperity.
- The Iranian leader calls for the removal of the dollar’s dominance in intra-regional relations.
- He stresses the need for expanding the use of national currencies in international trade.
Hot Take:
President Raisi’s call for de-dollarization at the SCO summit reflects a growing trend among nations to reduce reliance on the U.S. dollar and establish a more equitable global financial system. The use of national currencies in trade settlements can promote economic independence and protect countries from the impact of economic coercion and sanctions. By advocating for a fair international system, Raisi highlights the need to challenge the dominance of Western powers and promote multilateral cooperation based on mutual benefit. This shift towards de-dollarization has the potential to reshape global trade and financial dynamics, empowering nations to assert their sovereignty and pursue sustainable development.
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