Russia says it has devised an alternative to a global electronic money transfer mechanism which the United States has shown it would readily use to disrupt overseas financial transactions of countries which it sanctions for political disputes.
Central banks of Iran and Pakistan are likely to sign agreement next week for opening banking channels to streamline trading activities between the two countries, a senior official of Pakistan said on Thursday.
Serious signs have appeared showing that doing business with Iran may have already started to return to normal a year after the removal of sanctions that had complicated commerce with the country since 2011.
Iran's Ambassador to Zimbabwe Ahmad Erfanian met the Chief Executive Officer of Zimbabwe's National Trade Development and Promotion Organization Sithembile Pilime on Wednesday to discuss ways to develop trade between the two countries.
An agreement to set up a free-trade area between Iran and the Eurasian Economic Union (EEU) will establish the basis for further growth in trade with Russia, which grew by about 80 percent in 2016, said Iranian Ambassador to Russia, Mehdi Sanaei.
British Trade Minister Liam Fox said on Wednesday he had commissioned work from his department to look at how to normalize “effective payment channels” with Iran to try to open up trading opportunities.