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
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
Putin to visit Tehran soon as Russia plans $8bn Iran investment
Russian President Vladimir Putin will visit Tehran soon as Moscow commits to $8bn investment in Iranian gas projects, Iran's ambassador to Russia said. Kazem Jalali told Iranian and ... more
Russia’s military recruitment slows in May after strong start to 2025
Russia’s military recruitment drive, which had been adding more than 1,000 new soldiers per day in early 2025 – nearly enough to cover losses on the front line in Donbas – saw a notable decline ... more