Iranian Justice Minister Amin Hossein Rahimi on Friday proposed creating an alternative to the SWIFT payment system and establishing a "sanctions club," which could be a platform for countries to discuss measures to counter sanctions pressure from the West
ST. PETERSBURG (Pakistan Point News / Sputnik - 12th May, 2023) Iranian Justice Minister Amin Hossein Rahimi on Friday proposed creating an alternative to the SWIFT payment system and establishing a "sanctions club," which could be a platform for countries to discuss measures to counter sanctions pressure from the West.
"Countries that have suffered from sanctions need to create a 'sanctions club' and develop relevant legal mechanisms of that club ... Of course we need to get rid of the Dollar as international Currency. We have to replace the dollar with our national currencies. This could really be implemented. On the other hand, we can create a system transferring financial messages instead of SWIFT," Rahimi said on the sidelines of the 11th St. Petersburg International Legal Forum in Russia.
The "sanctions club" could unite countries in their efforts to counter sanctions pressure from the West, according to the minister.
The states that suffer from Western sanctions could coordinate their policy within the club with the aim to protect their sovereignty and law, Rahimi added.
