Iranian Professor Predicts Saudi Arabia’s Potential Shift Away from US Dollar
A professor at the University of Tehran and member of Iran’s Presidential Delegation to China has spoken out about the importance of de-dollarization for the international community. Professor Mohammad Marandi, who is also the University’s Vice President for International Affairs, recently gave an interview to Chinese government-owned news outlet Global Times, discussing de-dollarization and Iran’s relationships with Saudi Arabia and China.
During the interview, Professor Marandi emphasized the significance of the de-dollarization trend that’s been gaining traction in several parts of the world. He explained that the US has used the dollar as a weapon against different countries, which makes it an unreliable and dangerous currency. As a result, countries like China, Iran, and Russia – among many others – need to move away from the dollar to avoid being vulnerable to the US’s pressure tactics.
He also discussed the importance of Saudi Arabia moving away from the dollar, particularly if the recent restoration of bilateral ties between Saudi Arabia and Iran continues. Professor Marandi believes that the chances of Saudi Arabia joining the camp of de-dollarization would increase substantially if the rapprochement between the two countries continues.
Finally, he suggested that it would be ideal for China to use the yuan to import energy from the Gulf region, given that China is a major energy importer from that region. By using a currency other than the US dollar, China would become less vulnerable to any pressure that the US might try to exert on it.
In summary, Professor Marandi stressed the importance of de-dollarization for countries looking to protect themselves from US pressure, and expressed his hopes that Saudi Arabia would join the movement. He also highlighted the benefits of using currencies other than the dollar for international transactions, particularly for energy imports.
Clever Robot News Desk 21st April 2023