Iran-Russia Banking Network Connection: A New Approach to Facilitate Trade and Tourism Amid Sanctions

Connecting the card payment networks of Iran and Russia was a big and good step that can help the country in the conditions of sanctions. Of course, the limit of money transfer and the conversion rate of Rial to Ruble is still unknown.

At present, the greatest achievement of connecting Shetab and Mir systems is for the tourism industry. Currently the volume of these exchanges is not enough to cover the activities of merchants and this process can solve the problems of the tourism industry. Therefore, if this financial process is allocated to higher volumes, it can greatly help facilitate Iran’s trade.