Russia, Iran discussing connection of Shetab, Mir payment systems, says deputy PM Novak

TASS Russian News Agency | May 25, 2022 at 2:10 PM

TEHRAN, May 25. /TASS/. Russia and Iran have agreed to move to the highest possible level of mutual settlements in national currencies, co-chair of the intergovernmental commission of Russia and Iran, Russian Deputy Prime Minister Alexander Novak said following a meeting of co-chairs of the commission on Wednesday, adding that the countries are discussing the connection of payment systems Mir and Shetab (Iran's payment system), as well as the operation of national financial messaging systems.

"One of the key subjects (of the talks) was the creation of conditions for mutual settlements and processing of payments between our legal entities, organizations. Importantly, we agreed to move to the highest possible level of settlements in national currencies. We discussed together with central banks the spread and operation of the financial messaging system, as well as the connection of Mir and Shetab payment cards," Novak said.

The Mir card is not available for use in Iran now. Earlier reports said Iran and Russia were discussing the issue of connecting their banks to the System for Transfer of Financial Messages (SPFS), a Russian analogue of the global payment system SWIFT.