Iran and Russia are planning to establish a joint account to settle mutual payments in their own legal tenders, Russian rubles and Iranian rials, RIA Novosti cited Mehdi Sanaei, Iran’s ambassador to Moscow.
Besides, the ambassador noted that relations between Iran and Russia "are actively developing" and the last year was "very fruitful" for both Tehran and Moscow. According to the Iranian diplomat, some problems have to be resolved to encourage further development of the cooperation. The key issue among them is a bilateral monetary treaty.
“Both sides plan to create a mutual bank or a mutual account to make payments in rials and rubles possible. The sides also reached an accord on appointing a working group,” Mehdi Sanaei said in an interview to RIA Novosti.
Vice governors of the central banks greenlighted the transition to mutual transactions in the national currencies at the meeting two days earlier.
Last September, Iran and Russia agreed in principle to use their national currencies in bilateral trade.
