With the signing of the agreement, 52 Iranian and 106 Russian banks are connected through the Russian Financial Message Transfer System, which will facilitate economic relations between the two countries.
Iran and Russia have a this Sunday agreement until connect your banking systems with a system comparable to interbank payments FAST, from which Iranian and partly Russian financial institutions are excluded.
With the signing of the agreement 52 Iranian and 106 Russian banks remain connected through the Russian Financial Message Transfer System, which will facilitate economic relations between the two countries, said the deputy governor of the Central Bank of Iran, Mohsen Karimi.
“This system is immune to sanctions because it is based on the infrastructure of both countriesKarimi said this according to the Iranian news agency Mehr.
The global SWIFT consortium, the world leader in secure financial messaging services, has banned Iranian banks from its system following the reimposition of US economic sanctions against Iran in 2018.
As a result of this suspension of services, the The Iranian banking system is disconnected from the international onewhich makes banking transactions with other countries more difficult.
Russia was partially excluded from the SWIFT system last year for his invasion of Ukraine.
Iran and Russia maintain close political ties and both countries face US sanctions.
Iran has been living under sanctions since Washington abandoned the 2015 nuclear pact in 2018 and Russia since its invasion of Ukraine, which also led to the European Union imposing economic punitive measures.
After the invasion of Ukraine, ties between Tehran and Moscow They have limited themselves to economic issues, but also to military issues.
While economic relations between the two countries have soared to $4 billion in recent years, Tehran has been selling drones to Russia, which it used in its invasion of Ukraine.
In recent months, official trips between the two countries have also multiplied, with the visit to Russia in January 2022 by Iran’s President Ebrahim Raisí or the two trips by Iran’s Foreign Minister Hosein Amir Abdolahian to the capital Russia in less than a year.
Russian President Vladimir Putin also visited Tehran in August 2022.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
