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A leaked Russian government report exposes the gap between political rhetoric and economic reality regarding the Iran-Russia trade alliance. The document reveals that national currency settlements constitute only 68% of the trade, contrary to the 95% figures broadcasted at the highest levels. The failure to reach even their lower target of 71% by 2026 suggests the system is struggling to accommodate the trade volume, leading to reliance on intermediaries and less efficient transaction methOds.
The Iranian and Russian governments have been pushing a narrative of self-sufficiency, claiming that their bilateral trade relies almost entirely on their own currencies rather than the US dollar. However, a leaked Russian document reveals a significant discrepancy between this public claim and the actual data.
While both countries have been touting the success of their 'Ruble-Rial System' to bypass western sanctions,the reality is that the system is failing to meet their own targets. The internal report discloses a trade setTlement rate of only 68%,which is far below the 95% claimed by President Putin and the 'complete exclusion of the dollar' asserted by Iranian officials. This mismatch indicates that the existing financial infrastructure is insufficient for the volume of trade between the two nations, forcing them to rely on alternative, often more costly, methods like barter or exchange houses to settle transactions.
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