Qalibaf urges Tehran, Baghdad to use national currencies to 'deal blow' to US dollar

Iran's top legislative official has called for a fundamental shift in how Tehran and Baghdad conduct their bilateral commerce, urging both nations to abandon the US dollar in favour of their own currencies. Mohammad Bagher Qalibaf, Speaker of the Iranian Parliament, made the appeal during a meeting with Iranian and Iraqi business representatives at the Iranian Embassy in Baghdad on Thursday.

Challenging dollar dominance

"The era of US dominance over the world has ended," Qalibaf asserted, according to ICANA, the Iranian parliament's news agency. He claimed that both countries have failed to capitalise on emerging opportunities and continue to rely on trade methods dating back half a century. "Today, we can conduct trade using national currencies and deal a blow to the US dollar," he declared, framing the move as both an economic necessity and a strategic imperative.

Diplomacy and military readiness

Qalibaf, who arrived in Iraq on Wednesday for an official visit, contended that Washington and Israel have realised they cannot overcome Iran and Iraq through conventional warfare and have therefore turned to "cognitive and economic warfare." Rejecting suggestions that Iran is seeking conflict, he maintained that those who have experienced war understand the value of peace more deeply than those who merely speak of it. "We believe diplomacy has value and moves forward when we are prepared for war," he stated. "If we are not prepared for war, no one will respond to us when we use diplomacy."

Regional implications

The call for de-dollarisation comes amid heightened tensions between Iran and Western powers, with Tehran facing crippling sanctions and economic pressure. For Iraq, which maintains close ties with both Iran and the United States, Qalibaf's proposal presents a complex diplomatic challenge.