The Post-Partisan Emporium

The Big Stiff: Russia-Iran dump the dollar and bust US sanctions News of Russian banks connecting to Iran’s financial messaging system strengthens the resistance against US-imposed sanctions on both countries and accelerates global de-dollarization. By Pepe Escobar February 09 2023 The agreement between the Central Banks of Russia and Iran formally signed on 29 January connecting their interbank transfer systems is a game-changer in more ways than one. Technically, from now on 52 Iranian banks already using  SEPAM , Iran’s interbank telecom system, are connecting with 106 banks using  SPFS , Russia’s equivalent to the western banking messaging system SWIFT. Less than a week before the deal, State Duma Chairman Vyachslav Volodin was in Tehran overseeing the last-minute details, part of a meeting of the Russia-Iran Inter-Parliamentary Commission on Cooperation: he was adamant both nations should quickly increase trade in their own currencies. Ruble-rial trade Confirming that the...

The power of the United States comes from many legacies combined in a unique mix “The political fracas is already underway in Washington. Republicans  claim  the Biden administration showed weakness in allowing the balloon to enter the US. Airspace. Officials counter that the previous administration, under President Donald Trump, didn’t react to several  similar missions  over US states and territories. Yet those previous incursions didn’t go on for so long, or reach so far into the continental United States.” [1] So writes David Ignatius describing Washington’s emotional tsunami triggered by the Chinese balloon caught hovering over America on the eve of Secretary of State Antony Blinken’s programmed visit to Beijing. The visit was canceled, the balloon was shot down, China blamed America for destroying its property, and America accused China of supplying Russia with critical material for its war efforts. The damage is still unclear as both sides try to avoid getting...