Wednesday, May 29, 2024

China envoy: De-dollarization outcome of US economic coercion

The Chinese ambassador to Iran says the de-dollarization process, which has been gathering pace on the international stage, is the outcome of America’s use of its national currency as a tool to exert economic pressure on others.

In a lengthy interview with Tasnim New Agency, Chang Hua said the world’s confidence in the dollar has seen a drastic decline since the US administration uses the currency as a tool to protect its geopolitical interests and curb the development of other economies.

He said many developing countries seek to abandon the dollar in their international transactions as the main currency, and that the process of de-dollarization is moving forward more rapidly.

“This is the inevitable result of America’s use of the dollar as a tool for economic coercion and geopolitical games,” he added.

“China has always opposed the US’s illegal unilateral sanctions against Iran, and will continue to mutually and beneficially cooperate with Iran within the framework of international law to achieve further development in China-Iran comprehensive strategic partnership in the new era,” he added.

Commenting on the reconciliation deal that China brokered between Iran and Saudi Arabia last month, the senior diplomat said Beijing’s goal was to promote peace and dialog and help bolster stability in the strategic Persian Gulf region.

Hua said the Iran-Saudi talks in Beijing have provided new models and ideas for solving global security issues, adding that China will continue to do its best to provide necessary support to Iran and Saudi Arabia in their efforts to restore diplomatic relations.

The ambassador said foreign interference is an important factor that weakens the security and stability of the Middle East region and negatively affects it.

America has committed serious violations of human rights and many other crimes in the Middle East, which has caused permanent and irreparable damage to the countries and people of the region, he said.

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