Central Bank Of Iran: Tehran And Moscow No Longer Need “SWIFT” In Their Dealings
January 7 21:13 Information/Continue...Deputy Governor of the Central Bank of Iran for International Affairs, Mohsen Karimi, announced on Sunday that Iran and Russia no longer need the “SWIFT” system in transactions between them. Mohsen Karimi said in a statement to Iranian television:
“Exporters from both countries have the possibility of exporting in their national currency,” adding:
“In this project, exporters and importers exchange their goods for riyals. As for the countries from which we import with riyals, it is possible to export to them with riyals as well.”
Karimi referred to the opening of a letter of credit between Iran and Russia, saying:
“We have linked the correspondence network between the two countries, which means that the banks of the two countries no longer need to communicate through Switzerland.
It is possible for the exporter to submit an invoice in riyals to the Russian side and receive the money from the Russian banks.” in Iran". Karimi added:
"Iranian businessmen will be able to conduct their economic transactions with Iraq and Afghanistan in riyals during the next six months."
For his part, the Minister of Trade of the Eurasian Economic Union, Alexandrovich Slinev, explained:
“A large volume of our trade is carried out in national currencies, and 8the performance of our central banks is improving,” according to what was reported by the “Mehr” agency. LINK
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