Iran and Russia have taken a notable stride in bolstering economic ties by involving their academic institutions in efforts to reduce reliance on the U.S. dollar. Last week, the presidents of Iran’s Imam Hossein University and Russia’s Plekhanov University of Economics signed a memorandum of cooperation. This initiative aims to collaborate on strategies aimed at dedollarizing their economies in international trade and finance. The agreement prioritizes scientific and academic exchanges, encompassing student and faculty swaps, practical training programs, and scientific internships. This partnership forms part of a broader strategy by both nations to counteract U.S. sanctions and decrease dependency on the dollar. The collaboration between these universities highlights an emerging trend of academic and economic cooperation, aimed at enhancing mutual economic resilience and advocating for alternative financial systems.
