Iran Urges Russia to Ditch U.S. Dollar

The United States may be a military superpower, but foreign leaders know how to hit it where it hurts.

Iran’s supreme leader called for more cooperation between Iran and Russia on Wednesday, urging Russian President Vladimir Putin to beat American sanctions by ditching the United States dollar. Ayatollah Ali Khamenei made these remarks during a meeting with the Russian president in Tehran.

“By ignoring the negative propaganda of the enemies who seek to weaken relations between countries, we can nullify U.S. sanctions, using methods such as eliminating the dollar and replacing it with national currencies in transactions between two or more parties; thus, isolate the Americans,” Khamenei said.

Russia has been negotiating an “oil for goods” program with Iran since 2014. According to statements from Russian Energy Minister Alexander Novak last March, this program would allow Russia to buy 100,000 barrels of Iranian oil per day over an unspecified period, using Russian goods and equipment instead of U.S. dollars.

Russia is also working with China to set up an apparatus that would allow oil sales between the two nations to be conducted using the yuan instead of the dollar. Sergey Glazyev, an adviser to Vladimir Putin, has explained that Russia is negotiating such deals in a bid to bring about the collapse of the U.S. economy.

“The more aggressive the Americans are, the sooner they will see the final collapse of the dollar and by getting rid of the dollar this would be the only way for victims of American aggression to stop this onslaught,” Glazyev said in an interview with tass. “As soon as we and China dump the dollar, it will be the end of the U.S.’s military might.”

When the United States abandoned the gold standard in 1971, the dollar became a pure fiat currency until U.S. President Richard Nixon negotiated a “petrodollar” agreement with Saudi Arabia in 1973. In return for military hardware, the Saudi government agreed to sell oil exclusively in U.S. dollars. Other nations followed suit, and the U.S. dollar became a de facto oil-backed currency, instead of a gold-backed currency.

If enough nations stop using dollars to buy oil, however, the currency will revert to a fiat currency—backed by nothing but paper. This is exactly what Ayatollah Khamenei and Sergey Glazyev would like to see happen. But more importantly, the Bible indicates that the collapse of the U.S. economy is something God is allowing to happen.

While most Americans don’t know as much about the Bible as past generations, the American people have an amazing 4,000-year history with God. This history stretches back to Mount Sinai, where God made a covenant with the ancestors of the American and British peoples. This covenant is recorded in Leviticus 26 and Deuteronomy 28, which show that if the people of America and Britain reject God, He will bring the nation to ruin—socially, financially and militarily.

Those who believe the prophecies in their Bible know that economic collapse is imminent if people don’t wake up and turn to God and His way of life. For a more detailed look at a new financial instrument that gives oil-exporting nations their long-sought alternative to the petrodollar, read Jeremiah Jacques’s article “Buying Black Gold Without Greenbacks.”