Date: 25 August 2019 , 19:06
News ID: 6168
NEWS SERVICE: ECONOMY and TRADE

Envoy: Iran, Russia to Link Banking Networks

Russian Ambassador to Tehran Levan Dzhagaryan said on Sunday that his country and Iran will link their domestic banking networks in the near future.
Envoy: Iran, Russia to Link Banking Networks

In a meeting with Managing Director of Iran’s International Exhibitions Company (IIEC) Bahman Hosseinzadeh today in Tehran, Dzhagaryan reassured that the banking networks of the two countries will get connected in a near future, adding that financial transactions between Iran and Russia will become much easier since then.

Late in June, Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati stressed his country's interest in expanding mutual trade cooperation with Russia and selling its oil with the help of the Northern neighbor.

"Russia, in parallel with the Europeans, has presented a proposal for trade cooperation with Iran and we are also interested in trade ties with them because Russia can supply many of our needs by purchasing oil from us," Hemmati said in an interview with the state TV on June 23.

Early in July, Russian Permanent Representative to the European Union Vladimir Chizhov stated that Moscow will ignore Washington’s sanctions against Iran and continue to trade with the Middle Eastern nation without creating any special mechanisms.

"Our colleagues here [in Brussels] sometimes ask why Russia and China do not create their own INSTEX [Instrument in Support of Trade Exchanges]. To that we answer with the question: why do we need it? We have already traded and will trade without paying any attention to US sanctions," Chizhov told Sputnik.

source: Fars News Agency
Russia banking Europeans INSTEX Middle Eastern
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