|  | 

Foreign Affairs

Iran welcomes expansion of financial ties with Russia: Official

Tehran, Deputy Governor of Central Bank of Iran for international affairs Hossein Yaghoubi Miab said on Thursday that Iran welcomes expansion of banking and financial relations with Russia.

He made the remarks in the 6th meeting of Iran-Russia banking and financial group in Tehran attended by Deputy Governor of Russian Federation Central Bank Dmitry Skobelkin and senior directors of Iranian and Russian banks.

Miab expressed the hope that the meeting would be a step towards developing banking ties, which in turn would increase trade exchanges between the two countries.

He pointed to disloyalty of the US administration to international agreements and its disregard for global principles and obligations and said in such a situation deepening and expanding ties between Russia and Iran is necessary.

Recalling the Iranian and Russia presidents' emphasis on bolstering bilateral economic and trade ties, Miab said Iran's exports to Russia stood at 286 million dollars and imports from that country at 704 million dollars last year.

He said that obstacles should be lifted and necessary grounds should be prepared to boost banking relations and facilitate expansion of trade exchanges.

He underlined the need for Iran and Russia to use their national currencies in trade, hold negotiations for setting up a messaging system for their financial and banking transactions, organize workshops for bank employees and follow up Iran's membership in banking committee of Shanghai Cooperation Organization as an observer.

Skobelkin said that 24 Iranian banks and credit institutes have established advisory relations with seven Russian banks.

Skobelkin pointed to high potentials of the banking systems of the two countries and expressed the hope for bolstering of trade and economic exchanges between the two sides.

He said the Russian Central Bank was ready to remove all limitations and obstacles to development of banking ties between the two countries.

At the end of the meeting an agreement on financial and banking cooperation between the two countries was signed by Miab and Skobelkin.

Source: Islamic Republic News Agency - IRNA

The iran News Gazette is mainly concerned with news and information about the Arab region and also covers international issues. Its main objective is to provide reliable and verified information on the Arab region for publishing on the digital landscape.