Russia and Iran have signed an agreement on the liquidity of national currencies in order to facilitate bilateral trade, representatives of the central banks of the two countries said. Moscow and Tehran also completed the integration of the Mir and Shetab payment systems.
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“As a result of a bilateral meeting with the head of the Central Bank of Russia, an agreement was signed on the liquidity of national currencies for [облегчения] trade exchanges,” TASS quotes Iranian Central Bank Chairman Mohammad Reza Farzin as saying.
Trading in national currencies, he said, will allow for a multiple increase in the level of trade turnover and the number of transactions.
Cooperation within the framework of payment systems integration, in turn, consists of three stages. In the first, guests of Iran will be able to withdraw rubles in cash from Shetab system cards (including Amber smart cards) at all ATMs in the Russian Federation.
Russians will then be able to pay with domestic Mir cards in the Islamic Republic. And in the third stage, they will be able to pay for goods in Russia via a bank terminal.
Negotiations on this issue first became known in May 2022, and in April 2024, the Iranian Ministry of Foreign Affairs announced that the project to integrate “Mundo” cards in the country had entered the implementation phase.
The Russian Federation is also negotiating similar agreements with Egypt, Mauritius and Myanmar.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
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