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Russia, Iran almost fully switch to settlements in national currencies — Russian Deputy PM

"This allows us not to depend on those who are trying to hinder the development of our economies," Alexander Novak stressed

MOSCOW, February 8. /TASS/. Russia and Iran have almost completely transferred payments between countries to national currencies and to their own bank messaging systems, Russian Deputy Prime Minister Alexander Novak told reporters.

"We have switched almost completely to settlements in national currencies and the transmission of banking messages using our national (systems). This allows us not to depend on those who are trying to hinder the development of our economies," he said at a reception on the occasion of the 45th anniversary of the Islamic Revolution in Iran.

"We really have a lot in common, we work in a bilateral and multilateral format. Our Iranian friends have joined the Shanghai Cooperation Organization and BRICS. There is also huge potential for developing cooperation with Russia and with all the countries that are members of these organizations," Novak added.

In May 2022, the Deputy Prime Minister said that Russia and Iran agreed to switch to mutual settlements in national currencies as much as possible. Novak noted that the countries are discussing how to connect the Mir and Shetab payment systems, as well as the national systems for transmission of financial messages.

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Foreign policy Iran

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