The Central Bank of Iran has issued a permit for the opening of the first Russian bank branch in the country, Donyaye Eqtesad reported on May 16.
Mir Business Bank, a Russian bank partly owned by Iran's Bank Melli, will soon begin operations in Tehran as part of strengthening economic ties between Iran and Russia.
The branch opening is a result of agreements reached during the official meeting between the presidents of Iran and Russia on January 18, 2025, during which a comprehensive strategic treaty was signed.
This step is viewed as an important stage in strengthening joint financial and banking infrastructure and will facilitate the expansion of trade and investment ties between the two countries.
The branch is expected to simplify banking services for entrepreneurs and activate currency settlements between the countries.
Additionally, the second phase of connecting the banking systems of Iran and Russia was implemented this week, marking another step towards developing bilateral financial cooperation.
Related Articles
China’s LNG imports slump for eighth month
China’s LNG imports have fallen on a year-on-year basis for the eighth consecutive month, Bloomberg reported on June 26 citing data from Kpler. Imports of the super-chilled fuel in the world’s ... more
Russian bomber crashes in Mali amid escalating conflict
A Russian-built Su-24M bomber operated by the Africa Corps crashed into the Niger River near Gao, Mali, shortly after an armed confrontation with separatist forces, representing a significant setback ... more
Russia to deepen ties with Africa in defence and investment, says Putin's spokesman
Russia intends to expand its cooperation with African countries significantly, placing particular emphasis on economic investment and security collaboration, Presidential Press Secretary Dmitry ... more