A trade payment system has been agreed between Russia and Iran, under which trade between the two countries will now be in local currency, Russia and Iran will no longer use dollars in mutual trade.
Central Bank of Iran (CBI) Governor Mohammad Reza Farzin said that a financial agreement has been signed between Tehran and Moscow for bilateral trade exchange.
He said that the scheme will be further developed in the next stages to allow Russian citizens to use their banking cards at Iranian ATMs and therefollowing to enable Iranian cards to be used at Russian POS.
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