Russia to merge its banking system with Iran

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Russia will merge its banking system with Iran

Merging between banking networks and national payment systems Shetab and Mir will be installed within a few months.

Iranian Finance Minister Ehzan Khanduzi announced the unification of the national banking and payment systems of Iran and Russia. This was reported by Xinhua on Tuesday, October 11.

“Negotiations were held between the Iranian and Russian central banks, and I hope that the unification between the banking networks and the national payment systems Shetab and Mir will be established within two to three months,” Khanduzi said.

According to him, the unification of banking networks will facilitate commercial activities and tourism.

After Visa and MasterCard left Russia, the national payment system Mir remained the only means of using payment cards in Russia. However, Mir does not work practically anywhere outside the Russian Federation, and those foreign banks that previously agreed to accept cards of this system are refusing to do so due to the influence of international sanctions.

Earlier, Iran announced that they did not recognize the pseudo-referendums of the Russian Federation . At the same time, Tehran accused NATO and the United States of provocations that led to the war.

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