In a significant move towards enhancing bilateral financial cooperation, the Governor of the Central Bank of Iran, Mohammad Reza Farzin, has announced the signing of a groundbreaking currency agreement with Russia. This development was reported by Trend.
The agreement was finalized during a meeting between the heads of the central banks of Iran and Russia at the Bank of Russia’s financial congress in St. Petersburg on July 4. The primary aim of the agreement is to ensure the liquidity of national currencies in commercial transactions between the two countries.
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Farzin revealed that both nations have successfully completed the integration of Russia’s Mir payment system with Iran’s Shetab system. This integration will facilitate smoother financial transactions and is expected to be operational in Russia by the end of August.
This collaboration marks a significant step in strengthening the financial ties between Iran and Russia, potentially paving the way for more robust economic cooperation in the future.
