• Sat / 14 September 2019 / 12:38
  • Category: Economy
  • News Code: 98062310651
  • Journalist : 71477

Russia, Iran coordinating their systems as alternative to SWIFT

Russia, Iran coordinating their systems as alternative to SWIFT

Tehran (ISNA) - Russia and Iran are organizing cooperation between the Russian financial messaging system and Iran's SEPAM as an alternative to making payments through SWIFT for protection against third countries' sanctions, Russian presidential aide Yury Ushakov told reporters.

"In order to protect bilateral trade and economic ties from the sanctions of third states, measures are being taken to expand direct settlements, use national currencies, establish interaction between the Russian financial messaging system and Iran's SEPAM as an alternative to making payments through SWIFT," Ushakov said.

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