Senior officials from the central banks of Iran and Russia met in Russia to deepen financial and economic cooperation between the two countries.
In the meeting held between Iran's Central Bank Governor Abdolnasser Hemmati and Russia's Central Bank Governor Elvira Nabiullina, the expansion of banking cooperation, the increase of bilateral trade, and the strengthening of the North-South transport corridor were discussed.
During the meeting, Hemmati expressed his appreciation for the condolence messages sent by Russian officials following the martyrdom of Iran's Islamic Revolution Leader Ayatollah Seyyed Ali Khamenei and the loss of Iranian citizens. He also referred to the resistance shown by the Iranian Armed Forces and people during the recent US-Israeli aggression.
Hemmati emphasized Tehran's continued commitment to strengthening economic and political relations with Moscow.
Emphasis on Independent Financial Infrastructure
Russia's Central Bank Governor Elvira Nabiullina underlined the importance of establishing a financial infrastructure independent of third countries. Nabiullina stated that broader use of national currencies in bilateral trade and stronger banking links could reduce the impact of sanctions on both economies.
According to the Tasnim news agency, at the end of the meeting, the parties agreed to activate a permanent banking committee to monitor and accelerate the implementation of joint banking and finance programs between the central banks of Iran and Russia.
New Financial Mechanisms Planned
In a statement following his visit to Russia, Hemmati announced plans to design and strengthen new financial mechanisms to facilitate trade between the two countries. Hemmati said these measures were taken to reduce banking barriers, lower transaction costs, and create independent financial pathways.
Hemmati described this visit not merely as a diplomatic engagement, but as an operational mission aimed at removing obstacles in foreign trade. He stated that meetings with Russian monetary authorities and economic actors focused on building financial mechanisms outside traditional constraints and immediately utilizing monetary capacities to support trade.
Referring to efforts on foreign exchange market integration and its impact on businesses, Hemmati noted that the Central Bank's approach focused on reducing transaction costs and creating stability for economic operators. This would enable traders in Russia to export and import with greater certainty regarding exchange rates and fund transfers, he said.
