The Iran Project
: Russian and Iranian exporters can handle transactions in national currencies after the two countries integrated their financial message transfer systems, allowing banks to make direct payments without using the SWIFT system.
Monday 8 January 2024 - 23:05
Story Code : 411373
Source : Mehr News
Iran, Russia can conduct payments in national currencies
Transactions can now be made in the national currencies of Russia and Iran, the deputy chief of the Iranian central bank said.
Iranian Central Bank governor Mohammad Reza Farzin said in late December 2023 that Iran and Russia would sign a deal to trade in their national currencies instead of the US dollar in the first quarter of 2024.
In March of that year, Iranian Minister of Economic Affairs and Finance Ehsan Khandouzi told Sputnik that banking payment systems of Iran and Russia had been fully connected and would enable banks in both countries to open accounts for national companies and carry out direct payments.
Reporter : Editorial of The Iran Project
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