✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Iran, Russia link bank card systems to counteract sanctions

Iranian bank cards can now be used in Russia, state television reported, as the two countries linked their banking systems in the latest bid to counteract sanctions.

Iranian banks have been excluded since 2018 from the SWIFT international financial messaging service, which governs the vast majority of transactions worldwide.

The move is part of a raft of sanctions that were re-imposed on Iran after the United States withdrew from a landmark 2015 nuclear deal.

SPONSOR AD

Iranian bank cards can now be used in Russia, state television channel IRINN said on Monday, showing the withdrawal of money using an Iranian bank card from an ATM in Russia.

The operation was made possible by connecting Iran’s interbank network Shetab to its Russian equivalent Mir, the channel said.

“The plan is also going to be implemented in other countries that have a wide range of financial and social interactions with Iran, for example, Iraq, Afghanistan and Turkey,” it said.

 

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.

NEWS UPDATE: Nigerians have been finally approved to earn Dollars from home, acquire premium domains for as low as $1500, profit as much as $22,000 (₦37million+).


Click here to start.