Russia-Iran streamline interbank payments for more transport and investments
Image: Flickr. REUTERS/Sergei Karpukhin
Russia and Iran have officially entered an agreement to connect their interbank payment systems. Iran’s Shakr Bank and Russia’s VTB Bank will lead a project to link 158 banks and facilitate payments, investments, and other shared projects, including transport. “If this works in practice, the two countries will catch their breath since both are cornered”, says sanction expert and lawyer Sebastiaan Bennink.
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