Iran Sepah Bank opened a foreign letter of credit for importing goods from Russia. This is the first time this has happened since the US Department of Justice reimposed the sanctions regime against the Islamic State. In this respect reports RIA Novosti with reference to Tasnim agency.
Tasnim quotes a comment from the Central Bank of Iran, referring to the meeting between the governor of the Central Bank of Iran, Mohammad Farrzin, and the Governor of the Central Bank of Russia, Elvira Nabiullina, as part of the expansion of cooperation between the countries. After the meeting, the parties agreed to open a credit limit of 6.5 billion rubles for the supply of Russian goods to Iran.
On June 20, First Deputy Governor of the Bank of Russia Vladimir Chistyukhin said that Russia and Iran are discussing a wide range of possible financial cooperation, including payments, insurance and the use of Mir cards. He added that the Central Bank of the Russian Federation is discussing the possibility of expanding the Mir payment system with all friendly countries.
Last year, Russian Foreign Minister Sergei Lavrov said at a press conference after his meeting with his Iranian counterpart Hossein Amir Abdullahian that the Russian Mir payment system would soon be integrated with the Iranian Shetab system. According to him, substantive negotiations on this issue are currently ongoing at the central bank level. In March 2023, Dmitry Birichevsky, director of the Economic Cooperation Department of the Russian Foreign Ministry, announced that such negotiations were taking place between the parties.
Previously Lavrov discussed Trade and economic cooperation with the head of the Iranian Ministry of Foreign Affairs.