Russian and Iran central banks increase co-operation
Sanctioned countries agree to use own currencies for trade as lenders set up credit line
The central bank governors of Russia and Iran have agreed to strengthen their co-operation in avoiding the effects of international sanctions, Iranian state-owned media reported.
Bank of Russia governor Elvira Nabiullina and the Central Bank of Iran’s Mohammad Reza Farzin met in Moscow on December 27, NourNews said. The two governors finalised an agreement on using their own countries’ currencies in bilateral trade instead of the US dollar, it said.
Both countries are subject to tough financial
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