State Duma on introducing Russia's Mir payment system in Iran

State Duma on introducing Russia's Mir payment system in Iran

Russia's Mir payment system may start functioning in Iran by the end of this year, the chairman of the Russian State Duma Committee on Financial Markets Anatoly Aksakov said.

"Iranian and [Russian] Markets are absolutely different. So are the [purchase] volumes of our payment cards. There is hope that the Mir card [system] will start operating in Iran," Sputnik cited Aksakov as saying.

The MP noted that over the last six months, Russian and Iranian banks have opened more than 60 mutual correspondent accounts. The lawmaker added that the volume of transfers involving these accounts had increased by seven times over the past two years.

Aksakov noted that the upward trend in the increase of mutual transactions would continue, despite economic and financial sanctions imposed by other countries.

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