Tehran: The second phase of integrating Iran’s Interbank Information Transfer Network (Shetab) with Russia’s Mir system was unveiled in the presence of senior officials from both countries. This crucial step aims to facilitate financial transactions for Iranian and Russian tourists and businessmen.

According to Islamic Republic News Agency, the project is structured in three phases, each designed to introduce new experiences for citizens of both Iran and Russia. The first phase enabled Iranian citizens to withdraw cash in rubles from ATMs in Russia using relevant banking applications.

With the launch of the second phase, Russian citizens can now utilize the Mirpay app for purchases in Iranian stores. This development is set to provide a secure shopping experience across both nations and is anticipated to enhance trade and tourism between Russia and Iran.