Iranian Ambassador to Russia Kazem Jalali met and held talks with Elvira Sakhipzadovna Nabiullina current head of the Central Bank of Russia.

According to The Iran Project,Kazem Jalali and Elvira Sakhipzadovna Nabiullina met and discussed banking and financial cooperation between Iran and Russia.

In this meeting, the two parties expressed their satisfaction with the connection and operationalization of the banking messengers of the two countries and the process of speeding up the implementation of other banking and financial projects between them.

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 the 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.