6/23/2023 0 Comments Russia currency ratesMeanwhile, Bank of Russia Governor Elvira Nabiullina may visit Iran in the coming weeks to strengthen financial ties, a separate source told Reuters. VTB, whose CEO Andrei Kostin discussed cooperation at a meeting with Iran's ambassador last year, did not immediately respond to a request for comment. "Due to its active presence in the banking networks of Iran's export destinations such as CIS countries, India, Vietnam and particularly China, VTB will help to attract export earnings and reduce foreign transfer costs for Iran."Ī source familiar with the Iranian banking market said VTB had already opened correspondent accounts with Iranian banks. "The number of foreign banks' representative offices in recent years dropped from around 45 to 15, and VTB is the only bank to open its office during this period," semi-official news agency ILNA quoted Alireza Peymanpak, the head of Iran's Trade Promotion Organisation, as saying. The two countries have already connected their interbank communication and transfer systems, and Tehran has for months been planning to accept Russia's Mir payment cards, Moscow's alternative to Visa and Mastercard. Ties with Iran, disconnected from SWIFT since 2018, have become ever more crucial for Russia since Moscow despatched troops to Ukraine in February 2022. The lender is one of many key Russian banks now blocked from the SWIFT international financial messaging service. State-owned VTB plunged to a $7.7-billion loss last year as Western sanctions particularly targeted Russia's financial sector. May 17 (Reuters) - Russia's second-largest bank VTB (VTBR.MM) has opened a representative office in Iran, an Iranian official said on Wednesday, as Moscow and Tehran, both restrained by Western sanctions, seek to improve trade and transaction capabilities.
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