Iran, Russia working on launch of bilateral financial system

By Trend

Iran and Russia have good progress in launching a bilateral financial system, said the Spokesman of Iran's Foreign Ministry Nasser Kanaani, Trend reports citing IRNA.

Speaking in his weekly press conference, Kanaani noted the two countries have progressed in bilateral agreement to use a payment network in the banking system of both countries.

There were small issues and technical problems that are being resolved by the two sides, he said referring to efforts to find an alternative for SWIFT and removal of the US dollar from trade.

The official has underlined the ongoing 16th Iran-Russia Joint Economic Commission meeting in Grozny as an opportunity to discuss the latest trade cooperation.