Safe access to European and African banks was provided for Iranian businessmen
According to the report of Iran Economist, the Bank of Russia, which had announced the creation of the necessary infrastructure for cooperation with Iranian banks and institutions last year, has recently opened its representative office in Iran so that the banking transactions of Iran and other countries can be done more quickly and Spend less money, be done.
According to experts, the direct presence of this bank in Iran helps to transfer part of Iran’s foreign exchange earnings from the trust network to the banking network and trade transparency.
Although this is the first time that a large Russian bank officially reopens its representative office in Iran, but according to the economic officials of the country, the fields of banking transactions with some of the large banks of the Persian Gulf countries, China and Europe have been established in the past and the increase Transparent and low-cost exchanges are possible through these banks.
Also, according to the managers of some Iranian private banks, according to the agreements made, the capacity of Iranian and international banks to carry out currency exchanges will increase significantly, and Iranian banks and institutions will be able to reduce costs and Reduce the time of currency exchange.
Accordingly, the official unveiling of the representative office of the second largest Russian bank, which is known as one of the companies of the VTB Financial Group, will reduce the duration of banking transactions of Iranian companies to less than 24 hours, and in the first step, the conditions for low-cost access and Iran’s economic operators provide security to the banking system of countries from Europe, Africa and Asia.
Also, paying attention to the extensive activity of the subsidiaries of VTB Financial Group in South American countries, the field of diversifying Iran’s exchange routes with export target countries in this continent will also be created.
This bank has recently expanded its activities in China, South Africa, Venezuela, and member countries of the Arab League, and due to the creation of services for Iranian banks and companies, Iran’s access to the banking network of these countries has been facilitated.
In Europe, subsidiaries of this Russian bank are active in Belarus, Kazakhstan, Azerbaijan, Georgia and Sweden.
With the official start of VTB Bank, while facilitating the investment of Russian companies in Iran’s oil industry and railway infrastructure, the provision of the major part of the country’s basic goods needs through Russia will be created, which can reduce the foreign exchange demand for the import of basic goods. To release a significant part of Iran’s foreign exchange resources to meet the needs of other production and service sectors.
It is expected that the reduction of demand pressure on currency sources in the coming months will be accompanied by an increase in the supply of currency in the domestic markets, and this issue will lead to a further decrease in the rate of all types of currency this year.
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