Iran-Russia SWIFT-like financial system to be launched soon

With the participation of a business delegation from the Republic of Bashkortostan of the Russian Federation at the Tehran Chamber of Commerce on Tuesday, business negotiations between economic activists from the two countries were held with the aim of realizing opportunities for bilateral cooperation and examining the barriers and problems to the development of relations.

In the meeting, Minister of Trade and Services of the Republic of Bashkortostan Alexey Gusev of the Russian Federation announced the six-fold increase in the exchange of goods between the Republic of Bashkortostan and Iran over the last year and reminded that the companies of both sides can exchange products related to the machine industry, chemical industry, rubber, metals from Bashkortostan and steel products and foodstuffs from Iran.

Also in the meeting, Rostam Zhiganshin, Russia’s commercial representative in Iran referred to the meeting of the Joint Economic Commission of Iran and Russia in the next two weeks in Russia, and reminded that in that meeting, which will be held between the cabinet members of the governments of the two countries, important decisions will be made to establish SWIFT-like system between Iran and Russia will be made and if the two countries reach a final agreement, this financial exchange system between Iran and Russia will be launched and start working in the next two or three months.

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