Iran and Russia have signed this Sunday an agreement to connect your banking systems with a system similar to interbank payments SWIFT, from which Iranian and partially Russian financial institutions are excluded.
With the signing of the agreement, 52 Iranian and 106 Russian banks remain connected through the Russian Financial Message Transfer System, which will facilitate economic relations between the two countries, said the deputy governor of the Central Bank of Iran, Mohsen Karimi.
“This system is immune to sanctions since it is based on the infrastructures of both countriesKarimi said, according to Iran’s Mehr news agency.
The SWIFT global consortium, the world leader in secure financial messaging services, excluded Iranian banks from its system following the reimposition of US economic sanctions on Iran in 2018.
As a consequence of this suspension of services, the Iranian banking system is disconnected from the internationalwhich makes banking transactions with other countries difficult.
Russia was partially excluded from the SWIFT system last year for his invasion of Ukraine.
Iran and Russia maintain close political ties, and both countries face US sanctions.
Iran has lived under sanctions since Washington abandoned the 2015 nuclear pact in 2018 and Russia since its invasion of Ukraine, which also led the European Union to impose economic punitive measures.
After the invasion of Ukraine, ties between Tehran and Moscow They have narrowed on economic issues, but also on military issues.
While economic relations between the two countries have risen to $4 billion in recent years, Tehran has sold drones to Russia, which it has used in its invasion of Ukraine.
In recent months, official trips between the two countries have also multiplied, with the visit to Russia in January 2022 by the President of Iran, Ebrahim Raisí, or the two trips by the Iranian Foreign Minister, Hosein Amir Abdolahian, to the capital Russia in less than a year.
Also, Russian President Vladimir Putin visited Tehran in August 2022.
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