Russia, Iran agree upon local currency payment system

MOSCOW, May 25 (YPA) – Russia has agreed with Iran to switch to financial settlements in national currencies and they are discussing the possibility of operating Russian and Iranian payment cards, Russian Deputy Prime Minister Alexander Novak said on Wednesday.

On the sidelines of the joint Iran-Russia trade conference, Novak affirmed that Moscow and Tehran have agreed to switch to settlements in national currencies as much as possible.

“Today, we discussed with the central banks the distribution and operation of the financial messaging system, as well as the connection of payment cards,” Novak said.

He indicated that cooperation between Russia and Iran in the current circumstances has become one of the most important matters, including the transit of goods from the Arabian Gulf.

YPA