Iran and Russia are advancing faster than other nations in reducing reliance on the US dollar for trade, a senior Iranian businessman said, emphasizing enhanced banking and monetary cooperation between the two countries.
In May 2024, Russian President Vladimir Putin signed an Executive Order outlining the development goals for the Russian Federation through 2030 and extending to 2036.
Russia’s second largest bank, VTB, has said it is scheduled to convert its Tehran office into a branch.
President of the Iran Chamber of Commerce, Industries, Mines, and Agriculture, Samad Hassanzadeh, has expressed the Chamber’s willingness to play an active role in operationalizing a newly-signed comprehensive strategic agreement between Iran and Russia.
The Governor of the Central Bank of Iran (CBI), Mohammad-Reza Farzin, announced that the monetary agreement between Iran and Russia is now in effect.
The presidents of Iran and Russia have signed a comprehensive strategic partnership agreement for long-term cooperation.
Russian Deputy Prime Minister Alexey Overchuk has said that the free trade agreement between the Eurasian Economic Union (EAEU) and Iran is expected to be implemented in 2025.
Iran’s ambassador to Russia said on Monday that the Rasht-Astara railway route would not change as the ultimate expense has been determined, adding that the final agreement would be signed soon as the Iranian side is ready to finalize the project.
The Central Bank of Iran (CBI) says Russia’s Mir payment network has been connected to Iran’s Shetab banking system, a move that takes place in line with boosting financial cooperation between the two neighboring countries.
National currencies are being used in more than 96% of mutual payments between Russia and Iran, the Kremlin’s press service said on the verge of the meeting between presidents of the two countries to be held on the sidelines of the BRICS Summit in Kazan.