Establishing a credit line of 6.5 billion Russian rubles for Iran
According to Iran Economist From the central bank, it follows the visit of Mohammadreza Farzin, the head of the central bank, to Russia to increase monetary and banking cooperation with this country and also to strengthen relations within the framework of the free trade agreement between Iran and the Eurasian Economic Union. Bank of Russia and National Bank of Iran were held.
In this meeting, which was also attended by the Governor of the Central Bank, bank managers from Bank of Russia and National Bank of Iran emphasized the opening of a credit line of 6.5 billion rubles between Iran and Russia.
This line of credit is supposed to be done through Uzber Bank of Russia and National Bank of Iran to finance the import of basic goods needed by our country.
The credit line of 6.5 billion rubles follows the brokerage agreements and contracts concluded between the two banks in a minimal form and as the beginning of banking operations.
This opening of credit is the first important step towards the development of cooperation between Iran and Russia after the signing of the free trade agreement with Eurasia.
The development of monetary and banking relations between Iran and Russia was done at the insistence of the presidents of the two countries, which is an inevitable necessity and the introduction and infrastructure for the development of trade between them.
Also, in this meeting, Farzin emphasized on joint investment in the projects of Iran and Russia, and demanded the expansion of the economic capacities of the parties.
Abolfazl Najarzadeh, CEO of Bank Melli, also announced the readiness of Bank Melli to develop cooperation and joint investment with Russia, considering the capacity of the bank’s subsidiary companies in the pharmaceutical, food and petrochemical fields.
Despite Iran’s $200 billion trade and the high capacities of our country’s economy, the expansion of international banking relations is considered a very important step for the development of this sector.