Iran’s Ambassador to Turkey Mohammad Farazmand said on Friday that it is possible for Iran and Turkey to trade with national currencies.

While noting that the two countries are under threat of different powers, the ambassador said that both Iran and Turkey have enough economic power to be able to trade with national currencies.

He said that a currency swap deal has even been signed between the central banks of Iran and Turkey which has not come into effect yet due to the existence of arbitrary sanctions.

several factors have led to the reduction of bilateral trade between Iran and Turkey over the past few years, the ambassador added.

The unilateral US sanctions against Iran are the prime issue affecting the decline of trade between the two neighboring states, Farazmand noted.

He also referred to the coronavirus outbreak as another factor contributing to the reduction of trade level between Iran and Turkey, noting that transactions between the two countries fell sharply since two years ago when the spread of the disease began.

Pointing to the preferential trade agreement between Iran and Turkey, he highlighted that the need to update the agreement has also affected the trade between Tehran and Ankara