Manturov: Commercial banks of Russia and Iran will establish cooperation

Representatives of the Russian Industry and Trade Ministry held talks with the delegation of the Central Bank of Iran, during which they agreed to establish correspondent relations between the commercial banks of the two countries, the head of the Ministry Denis Manturov said.

"We talked about the formation of a mechanism to ensure cooperation in the framework of bilateral relations between commercial banks at the level of central banks, so that correspondent relationships were formed," TASS quoted him as saying.

Iranian banks are deprived of the opportunity to work with the international payment system SWIFT, and cannot make payments in dollars or euros due to the sanctions of the European Union and the United States, introduced because of Tehran's nuclear program.