Iran and Russia have implemented a monetary agreement and connected their national card payment networks, Shetab and Mir, according to the Tehran Times, a partner of TV BRICS.
Central Bank of Iran Governor Mohammad Reza Farzin, in Moscow accompanying the Iranian president, confirmed the agreement’s implementation. Bilateral trade transactions will now be settled using a mutually agreed commercial exchange rate. The agreement aims to strengthen financial cooperation and facilitate trade between the two nations.
The connection of Iran’s Shetab and Russia’s Mir payment networks marks a significant step in the agreement. Farzin announced the successful launch of the integration’s first phase, enabling seamless payment solutions for individuals and businesses in both countries.
