In a meeting with a visiting Russian delegation, Governor of Central Bank of Iran (CBI) Valiollah Seif pointed out the high trade capacity between the two countries deeming lack of adequate banking relations as hindrance to expansion of ties; “the previously unlikely proposals for establishment of joint accounts and creation of financial relations with Russia now seem to be more feasible,” he noted.
Seif emphasized the importance of launching banking ties leading to expansion of trade volumes between the two sides; “CBI fully supports plans to extend business turnover between Iran and Russia,” he added.
The official further considered the boosting of relations between commercial banks as the next step in the development of business relations urging the formation of a panel consisting of the two countries’ commercial banks to hold meeting investigating venues for expansion of banking relations by removing existing barriers.
He further called for the creating of a technical committee to determine the mechanisms of action to operationalize the credit lines between the two countries; “noting that due to sanctions, two rates exist in Iran for foreign currencies, we have allowed exporters to sell currency on the open market with the hope of supporting them.”
The Ministry of Industry and Trade of the Russian Federation Denis Manturov, for his part, highlighted the reached agreements on several projects between the two countries; “the implementation of these contracts is subject to the establishment of banking and financial mechanisms,” he asserted.
“We hope that the banks of both sides will resolve the existing issues in near future thanks to the frequent meetings of Iranian and Russian central banks,” Manturov concluded.
HA/3006949
Your Comment