Moscow: In a significant development for financial transactions between Iran and Russia, Iranian bank cards can now be used in Russia following the integration of the Russian banking network “Mir” with Iran’s “Shetab” system. This integration was marked by a ceremony attended by Mohammadreza Farzin, the Governor of the Central Bank of Iran (CBI), allowing Iranians to access their funds in rubles via Russian ATMs.
According to Islamic Republic News Agency, the newly established connection between the Mir and Shetab networks enables Iranians to convert their rial funds into rubles through Russian ATMs. This development represents the first phase of a broader initiative to facilitate financial transactions between the two nations.
The second phase involves allowing Russians, or those holding Russian-issued bank cards, to utilize these cards within the Iranian banking system. This expansion aims to enhance financial accessibility for Russian cardholders within Iran.
In the third and final stage of the agreemen
t, Iranian Shetab cards will be accepted at Russian retail outlets, providing Iranian travelers with the convenience of using their domestic bank cards for purchases in Russia. This progression underscores the deepening financial ties and cooperation between Iran and Russia.
The ceremony was also attended by Kazem Jalali, Iran’s Ambassador to Russia, highlighting the diplomatic significance of this financial integration.
