Iran and Russia are expected to complete the third and final phase of integrating their national banking payment systems within the next two months, a move that will allow Iranian travelers to make purchases in Russia using domestic bank cards, the governor of Iran's Central Bank says.
Speaking upon arrival in Moscow on Tuesday, Abdolnaser Hemmati said the final stage of linking Iran’s Shetab interbank network with Russia’s Mir payment system is currently being implemented.
“With the completion of the third phase, our citizens traveling to Russia will be able to use their bank cards to make purchases,” Hemmati told reporters.
Hemmati further stated that economic, trade and banking relations between Iran and Russia have continued to grow, adding that Tehran is seeking to diversify its trade corridors, broaden sources of goods supply and reduce reliance on any single mechanism for international financial settlements.
He also noted that Iranian authorities have provided financial support to domestic traders conducting business through Russia in recent months, describing the current situation as positive.
The central bank governor further said his visit to Moscow is focused on discussions with Russian officials to deepen bilateral monetary and banking ties.
He expressed hope the meetings would lead to closer cooperation between Iranian and Russian banks, including greater use of letters of credit (LCs), improved mechanisms for settling trade-related payments, and enhanced banking guarantee arrangements.
Asked whether Iranian students residing in Russia would benefit from efforts to ease financial transactions, Hemmati said the Shetab-Mir integration project was designed in part to address such needs.
“The connection of the two banking networks is intended to help our students as well, enabling them to benefit from the capacities of this system,” he said.
Hemmati added that meetings with Iranian businesspeople and economic activists operating in Russia would also address challenges facing traders and Iranian nationals, including students.
Source: Isna - Date: June 17, 2026