Iran, Russia Dump Dollar for Rial, Ruble

Sajjadi said on Saturday that the proposal for the replacement of the US dollar with the Iranian rial and Russian ruble was raised during a meeting between Russia's President Dmitry Medvedev and his Iranian counterpart Mahmoud Ahmadinejad on the sidelines of the 11th meeting of the Shanghai Cooperation Organization (SCO) last June.

Permanent SCO members include China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran, along with India, Mongolia and Pakistan, is an observer state to the intergovernmental mutual-security organization .... Read more at http://www.presstv.ir/