Iran-Russia monetary agreement becomes operational: CBI chief

Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin says that the monetary agreement between Iran and Russia became operational on Friday.

News ID: ۲۰۰۰۶۴۲

17 January 2025

EghtesadOnline: Farzin, who is now in Moscow accompanying President Pezeshkian on the visit to the Russian Federation, announced the connection of Russia’s Mir Card Network system to Iran’s SHETAB banking network.

The monetary agreement between Iran and Russia has been implemented, and the national currencies of the two countries i.e. ruble and rial have been used as the basis for the settlement based on the agreed rate on the commercial foreign exchange market.

Another major executive plan between Iran and Russia was the connection of MIR and SHETAB card payment networks, the first phase of which was commissioned, Iran’s top banker added.

Also, the joint document between central banks of Iran and Russia has been implemented in three main topics of "use of national currencies in trade between the two countries", "possibility of connecting banking and local messengers between the two countries entitled SEPAM and SPFS", and "possibility of connecting the card payment networks between the two countries." / Mehr