Iran-Russia Monetary-Banking MoUs to Put into Effect Soon

Referring to political will of two countries of Iran and Russia for developing economic ties, Governor of Central Bank of Iran said that monetary and banking Memoranda of Understanding will be put into operation soon. Ali Salehabadi said the two countries of Iran and Russia enjoy very good economic capacities and the relevant MoUs will become operational in very near future. Turning to his visit to Russia, he stated that very good and constructive talks were exchanged between high-ranking economic officials of the two country. Given the special emphasis of presidents of the two countries to develop sustainable economic relations, Salehabadi said that it was agreed to pave suitable ways for promoting ties in the monetary and banking fields. The officials of the two countries are interested in promoting their economic interactions, he said, adding that these constructive talks would lay the ground for further development of trade and economic relations between the two countries. He said that Iran and Russia have discussed removing the dollar and euro from commercial transactions. "Fortunately, good understandings were reached with Russia in various banking, financial and economic fields, which will be implemented in the near future," Salehabadi said, referring to his recent meeting with Deputy Prime Minister of Russia Alexander Novak in Moscow on Friday. Referring to the agreement reached between Iran and Russia to use national currencies in economic exchanges between the two countries, Salehabadi added, "The issue of using national currencies was one of the important axes of consultation with high-ranking Russian economic officials, and soon we will see the implementation of the agreements reached."

Saying that Iran is using domestic delivery systems instead of Swift, Salehabadi noted that since Russia also has its domestic delivery systems, there can be a good basis for banking cooperation between the two countries. Stating that the creation of financial platforms is one of the most important axes of economic development, the Iranian official added that his trip has created very good grounds for the relations between the businessmen of the two countries, and from now on, business activities will be carried out on new platforms and with greater ease. Referring to the political will of the presidents of Iran and Russia to develop and deepen the cooperation between the two countries, Salehabadi said, "Fortunately, there is a lot of interest in developing relations on both sides."
"There are very good capacities to increase the volume of economic exchanges and everything is ready for the rapid growth of relations between the two countries," he added. - Mehr