Iran_Is_Ditching_The_Dollar-03bca6f6f2b9a70f0e40270cb3d04d82Iran is no longer using the US dollar in foreign-trade transactions and is replacing it with other currencies, t he deputy governor at the Iranian Central Bank Gholami Kamyab said, according to Sputnik News . “In trade exchanges with the foreign countries, Iran uses other currencies including Chinese yuan, euro, Turkish lira, Russian ruble, and South Korean won,” Kamyab reportedly said. He also reportedly added that Iran was considering bilateral currency-swap agreements, which would allow partners to exchange one foreign currency for the equivalent in the other currency. He did not explicitly name partners, however. Although nuclear sanctions imposed on Iran over the years are meant to deter the state from building up its nuclear-arms program, they could also be the catalyst that is pushing Iran to look for new economic partners. As Ian Bremmer noted, the glaring drawback of using coercive sanctions (and other weaponizations of finance) is that the targeted countries can and will increasingly diversify away from the dollar. And over the past few years, Iran has been strengthening economic and military ties with others countries (including China and Russia) in an effort to circumvent the Western-imposed sanctions. Turkey ran an extensive gas-for-gold scheme with Iran, which ran from about March 2012 to fall 2013 and yielded Iran more than $13 billion amid crippling sanctions implemented by the US over the country’s perceived nuclear program. More