08.01.2024, Tehran.
Banks in Iran and Russia built a direct system for transmitting financial information and completely abandoned the SWIFT system, Mohsen Karimi, deputy head of the Central Bank of Iran for International Affairs, said, Fars News Agency wrote on January 8. “We have connected the messaging systems of the two countries with each other,” he said.
This has allowed banks in both countries to establish direct relations without Switzerland. An Iranian exporter can issue an invoice in rials and receive a transfer on that invoice from Russian banks.
This enables exporters in both countries to transact in their national currencies.
In late December, the head of the Central Bank of Iran Mohammad Farzin visited Moscow, where he met with the head of the Bank of Russia Elvira Nabiullina. The parties agreed to open a credit for $72 million to enable Iran to purchase necessary goods.
Source: Rossa Primavera News Agency
