BAKU, Azerbaijan, January 17. Bank operations between Iran and Russia have been activated, Head of Iran's Central Bank, Mohammad Reza Farzin, told reporters, Trend reports.
Farzin mentioned that the Russian "Mir" and Iran's "Shetab" card networks have joined forces, and a currency agreement between the two nations is now in effect.
According to Farzin, bank cooperation between the two countries will be conducted using their national currencies (ruble and rial) based on the agreement.
The Iranian official noted that the joint action plan between the central banks of Iran and Russia includes three key points: the use of national currencies in bilateral trade, the use of local SEPAM and SPFS banking message systems, and connecting to both countries' payment card systems.
To note, Iranian President Masoud Pezeshkian and the accompanying delegation visited Russia on January 17. The signing of a document regarding the comprehensive strategic partnership between the two nations took place during the visit.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel