Iran, Russia Resume Currency Exchange: Ambassador
TEHRAN (Tasnim) – Iran’s Ambassador to Russia Mehdi Sanaei said on Tuesday that the exchange of currency between Tehran and Moscow is now possible thanks to the cooperation of two banks.
“With a partnership between (Iran-based) Bank Melli Currency Exchange and (Russia-based) Mir Business Bank, currency exchange between Iran and Russia has been resumed,” Sanaei said, addressing a meeting with a trade delegation to Russia held in Iran’s embassy in Moscow.
Tradesmen can now do their money exchanges through the channel provided by the agreement made between the two banks, Sanaei added.
Sanaei had earlier said that Tehran and Moscow are planning to create a joint Iran-Russia bank in a bid to facilitate bilateral trade using national currencies of the two countries.
The plans came after the two countries decided last year to strengthen their trade ties in 2015 by simplifying the exchange of their national currencies.