{"id":64920,"date":"2023-01-31T19:30:54","date_gmt":"2023-02-01T00:30:54","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64920"},"modified":"2023-01-31T19:30:54","modified_gmt":"2023-02-01T00:30:54","slug":"iran-russia-integrate-banking-systems","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64920","title":{"rendered":"Iran, Russia integrate banking systems"},"content":{"rendered":"
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Iran, Russia integrate banking systems<\/a><\/h3>\n
52 Iranian and 106 Russian banks integrated their interbank communication and transfer systems for trade and financial operations<\/strong><\/div>\n<\/div>\n
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(Photo Credit : Atta Kenare\/AFP)<\/p>\n

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A top Iranian official announced on 30 January that Iran and Russia had integrated their interbank communication and transfer systems to help enhance trade and financial operations in an effort to bypass strict economic sanctions on their financial infrastructure.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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With the signing of the agreement, 52 Iranian and 106 Russian banks are connected through the Russian Financial Message Transfer System, which will facilitate economic relations between the two countries, said Deputy Governor of the Central Bank of Iran Mohsen Karimi.<\/p>\n

\u201cThis system is immune to sanctions as it is based on the infrastructures of both countries,\u201d Karimi said, according to Iran\u2019s\u00a0Mehr<\/em>\u00a0news agency.<\/p>\n

The global consortium SWIFT, the world leader in secure financial messaging services, excluded Iranian banks from its system following the reimposition of\u00a0economic sanctions<\/a>\u00a0by the United States on Iran in 2018.<\/p>\n

As a result of that suspension of services, the Iranian banking system is disconnected from the international one, making banking transactions with\u00a0other countries<\/a>\u00a0difficult.<\/p>\n

Russia was partially excluded from SWIFT last year due to its invasion of Ukraine.<\/p>\n

While economic relations between the two countries have grown to 4 billion in recent years, Tehran has sold\u00a0drones<\/a>\u00a0to Russia, which it has used in its invasion of Ukraine.<\/p>\n

Official trips between the two countries have also multiplied in recent months, with Iranian President Ebrahim Raisi visiting Russia in January 2022 and Iranian Foreign Minister Hosein Amir Abdolahian making two trips to the Russian capital in less than a year.<\/p>\n

\u201cIn today\u2019s world, a country\u2019s status is largely related to its economic power \u2026 We need economic growth to maintain our
\nregional and global position,\u201d Iran\u2019s top authority, Supreme Leader Ali Khamenei, said in a televised speech.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Iran, Russia integrate banking systems 52 Iranian and 106 Russian banks integrated their interbank communication and transfer systems for trade and financial operations (Photo Credit : Atta Kenare\/AFP) A top Iranian official announced on 30 January that Iran and Russia had integrated their interbank communication and transfer systems to help enhance trade and financial operations […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[61,441,694,1068,33090],"class_list":["post-64920","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-banking","tag-iran","tag-russia","tag-swift","tag-the-cradle"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64920"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64920\/revisions"}],"predecessor-version":[{"id":64921,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64920\/revisions\/64921"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}