Iranian bank cards can now be used in Russia, as the two countries link their banking systems in the latest effort to counter sanctions.
Iranian banks have been excluded from the international SWIFT payment system since 2018. This move is part of a series of sanctions reimposed by the US on Iran after Washington withdrew from the landmark 2015 nuclear deal, according to AFP.
A customer uses a Rossiya Bank ATM in St. Petersburg, Russia, on March 21.
Iran's state-run television channel IRINN reported on November 11 that customers can now use Iranian bank cards in Russia. In the broadcast, IRINN showed footage of a person withdrawing money using an Iranian bank card from an automated teller machine (ATM) in Russia.
This operation was carried out by connecting Iran's Shetab interbank network with Russia's equivalent Mir network, according to IRINN.
Currently, Iranians can withdraw money in Russia, and in the future, they will be able to use their cards to pay for purchases in stores, according to IRINN.
"This plan will also be implemented in other countries with significant financial and social interactions with Iran, such as Iraq, Afghanistan, and Türkiye," IRINN reported.
Both Iran and Russia are seeking to counteract the impact of sanctions on their respective economies .
Since Russia began its military campaign in Ukraine in 2022, Moscow has faced increasing sanctions from the West while Moscow-Tehran relations have become increasingly close.
In June, Tehran and Moscow signed an agreement to strengthen cooperation in the banking sector. In the future, Russians will also be able to use their bank cards in Iran, according to IRINN.
Russia has been pushing for the creation of an international payment platform to replace SWIFT, after major Russian banks were excluded from the system since 2022, according to AFP.
Source: https://thanhnien.vn/iran-nga-lien-ket-ngan-hang-de-doi-pho-lenh-cam-van-185241112210133422.htm
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