Iran, Russia top bankers emphasize bolstering bilateral ties

The governors of the central banks of Iran and Russia stressed the need to enhance monetary and banking cooperation, take advantage of BRICS capacities and institutionalize the new banking and monetary ties.

Governor of the Central Bank of Iran (CBI) Mohammad Reza Farzin held talks with the Bank of Russia Governor Elvira Nabiullina in Moscow on Wednesday to discuss mutual ties in the banking and monetary fields, Tasnim reports.

During a meeting, the two top bankers emphasized boosting cooperation within the framework of the recently inked Free Trade Agreement (FTA) between Iran and the Eurasian Economic Union (EAEU) in St. Petersburg on Monday.

A new chapter of banking and monetary cooperation started between Iran and Russia following the operationalization of the monetary and banking platforms.

In addition to finalizing the agreement on taking advantage of the national currencies in bilateral trade exchanges instead of the US dollar, the governor of the Central Bank of Iran raised proposals in the field of operation of the capacities of the BRICS group of emerging economies.

The governor of the Central Bank of Russia welcomed the suggestion of his Iranian counterpart, ISNA reported.