The US dollar as an instrument of western hegemony should be removed from world practice in order to create a new economic order, Iran’s President Ebrahim Raisi said during the SCO summit.
"The hegemony of the Western world promotes the hegemony of the dollar. In order to create a new economic order, it is necessary to remove this instrument of hegemony in world practice, to use national currencies in settlements between countries," he said.
The president also commented on the opportunities that SCO membership would provide to Iran.
"We believe that full membership in this important organization [SCO] will provide Iran with conditions for collective security, opportunities for sustainable economic development, for sovereignty to a greater extent than it was before," he said.
The procedure for Iran's admission to the organization was launched at the SCO summit in the capital of Tajikistan, Dushanbe in September 2021.
The SCO is an international organization founded in 2001. Its members include China, India, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Pakistan and Uzbekistan.
Observer countries are Afghanistan, Belarus, Iran and Mongolia. Partner countries include Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka, Turkey, UAE.