Tehran Urges Moscow to Accelerate Efforts to Reduce Impact of Dollar

Iran's Secretary of the Supreme National Security Council Ali Shamkhani meets with Russia's Presidential Aide Igor Levitin in Tehran, Iran, April 9, 2023. WANA (West Asia News Agency) via Reuters
Iran's Secretary of the Supreme National Security Council Ali Shamkhani meets with Russia's Presidential Aide Igor Levitin in Tehran, Iran, April 9, 2023. WANA (West Asia News Agency) via Reuters
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Tehran Urges Moscow to Accelerate Efforts to Reduce Impact of Dollar

Iran's Secretary of the Supreme National Security Council Ali Shamkhani meets with Russia's Presidential Aide Igor Levitin in Tehran, Iran, April 9, 2023. WANA (West Asia News Agency) via Reuters
Iran's Secretary of the Supreme National Security Council Ali Shamkhani meets with Russia's Presidential Aide Igor Levitin in Tehran, Iran, April 9, 2023. WANA (West Asia News Agency) via Reuters

Iran’s Secretary of the Supreme National Security Council Ali Shamkhani urged Russian President Vladimir Putin’s special assistant, Igor Levitin, to speed up the path of reducing the influence of the dollar in economic exchanges.

During a meeting with Levitin in Tehran, Shamkhani stated that “the path towards reducing the influence of the dollar in regional and international economic transactions, which has been joined by many countries, will lead to undermining the West's domination over the global economy to the lowest possible level.”

According to the official news agency IRNA, Shamkhani mentioned finalized initiatives between Russia and Iran regarding financial and banking exchanges with the aim of funding joint projects.

He described this as “an effective model in thwarting the West's illegal sanctions on both countries.”

The officials also discussed the application of agreements in various economic and banking fields, including the implementation of the North-South Transport Corridor project.

They also agreed on Russian investment in the remaining part of the road in northern Iran.

Shamkhani expressed Iran's satisfaction with the growing economic cooperation between Tehran and Moscow. He emphasized the need to activate mechanisms to accelerate the pace of implementing economic projects between the two countries.

During Levitin's visit to Iran last January, the two countries agreed that the remaining part of the North-South strategic corridor, in Iran’s northern Rasht-Astara route, will be built with the direct investment of Russia.

The North-South Transport Corridor is a network for moving freight between Iran, Russia, Azerbaijan and other countries in Asia and Europe.

In his meeting with Shamkhani, Levitin presented a report on the latest developments related to commercial, banking, and joint economic projects.

“Moscow is ready to implement joint plans and projects as soon as possible, especially in the field of transit and investments in various economic sectors in Iran, including steel, oil, and petrochemicals,” said Levitin.



Taiwan President Discusses US Tariff Response with Tech Execs

Taiwan's President Lai Ching-te speaks at the Asia Democracy and Human Rights Award in Taipei, Taiwan December 10, 2024. REUTERS/Ann Wang/File Photo
Taiwan's President Lai Ching-te speaks at the Asia Democracy and Human Rights Award in Taipei, Taiwan December 10, 2024. REUTERS/Ann Wang/File Photo
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Taiwan President Discusses US Tariff Response with Tech Execs

Taiwan's President Lai Ching-te speaks at the Asia Democracy and Human Rights Award in Taipei, Taiwan December 10, 2024. REUTERS/Ann Wang/File Photo
Taiwan's President Lai Ching-te speaks at the Asia Democracy and Human Rights Award in Taipei, Taiwan December 10, 2024. REUTERS/Ann Wang/File Photo

Taiwan President Lai Ching-te met tech executives on Saturday to discuss how to respond to new US tariffs, promising to ensure Taiwan's global competitiveness and safeguard the island's interests.

President Donald Trump announced across-the-board import tariffs on Wednesday with much higher duties for dozens of trading partners, including Taiwan, which runs a large trade surplus with the United States and is facing a 32% duty on its products.

The US tariffs, however, do not apply to semiconductors, a major Taiwanese export.

Lai met the executives at his official residence to discuss the response to "the global economic and trade challenges brought about by the reciprocal tariff policy", his spokesperson Karen Kuo said in a statement, Reuters reported.

She did not say which companies were present, only that there were several representatives from the information and communications technology, or ICT, industry.

Lai "hopes to give industry the greatest support, stabilise the economic situation, ensure Taiwan's industry's global competitiveness, and safeguard our country's national interests and the continued steady progress of our economy", Kuo said.

Taiwan is home to TSMC, the world's largest contract chipmaker and an important supplier to companies including Apple and Nvidia.

TSMC did not immediately respond to a request for comment on whether it attended the meeting. TSMC is in its quiet period ahead of first quarter earnings announcement on April 17.

On Friday, Taiwan's government unveiled T$88 billion ($2.67 billion) in financial help for companies and industries to deal with the impact of the US tariffs.

Taiwan, which says the tariffs are unreasonable, has said it will discuss them with the United States and has not announced any retaliatory tariffs.