The Governor of the Central Bank of Iran, Abdolnaser Hemati, and his accompanying delegation arrived in Moscow yesterday with the aim of developing monetary and banking relations between Iran and Russia, the Iranian news agency IRNA reported, quoted by BTA.
The visit is being carried out in line with efforts to expand financial cooperation and strengthen banking interaction between the two countries.
The two sides are expected to discuss solutions to facilitate monetary payments, strengthen cooperation between central banks and create new mechanisms to increase the volume of economic transactions.
Banking relations between Iran and Russia have developed significantly in recent years, largely due to the strengthening of Western sanctions against both countries.
In order to reduce their dependence on the US dollar and facilitate trade, Iran and Russia have made significant joint efforts to link their banking systems, expand the use of national currencies, and create alternative payment mechanisms.
Among the most important measures taken so far are the connection of the two countries' financial messaging systems, the expansion of payments in Iranian rials and Russian rubles, and the promotion of joint activities between commercial banks.
Experts believe that strengthening banking relations between Iran and Russia could lead to increased trade, reduced financial costs, and greater economic resilience in the face of international sanctions. However, this depends on overcoming a number of technical, legal, and implementation-related challenges.