News ID: 217877
Published: 0255 GMT July 06, 2018

Iran welcomes expansion of financial ties with Russia: Official

Iran welcomes expansion of financial ties with Russia: Official

Iran welcomes expansion of banking and financial relations with Russia, said deputy governor of Central Bank of Iran for international affairs on Thursday.

Hossein Yaqoubi Miab made the remarks in the 6th meeting of Iran-Russia banking and financial group in Tehran which was also attended by Deputy Governor of Russian Federation Central Bank Dmitry Skobelkin and senior directors of Iranian and Russian banks.

Yaqoubi Miab hoped that the meeting would be a step towards developing banking ties, which in turn would increase trade exchanges between the two countries.

Pointing to the US administration's disloyalty to international agreements and its disregard for global principles and obligations, he noted that in such a situation it is necessary to deepen and expand ties between Russia and Iran.

Recalling the Iranian and Russia presidents' emphasis on bolstering economic and trade ties, Yaqoubi Miab said Iran's exports to Russia stood at $286 million while imports from that country was $704 million last year.

He said that obstacles should be removed and necessary grounds should be created to boost banking relations and facilitate trade exchanges.

He underlined the need for Iran and Russia to use their national currencies in trade, hold negotiations for setting up a messaging system for their financial and banking transactions, organize workshops for bank employees and follow up Iran's membership in banking committee of Shanghai Cooperation Organization as an observer.

Skobelkin said that 24 Iranian banks and credit institutes have established advisory relations with seven Russian banks.

He pointed to high potentials of the banking systems of the two countries and hoped for bolstering of trade and economic exchanges between the two sides.

The Russian Central Bank, he added, was ready to remove all restrictions and obstacles to the development of banking ties between the two countries.

At the end of the meeting Miab and Skobelkin signed an agreement on financial and banking cooperation between the two countries.

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