Iran and Russia have linked their national payment networks, connecting Iran’s Shetab system with Russia’s Mir system.
Enable Iranian Citizens to Withdraw Rubles
This partnership allows cardholders from both countries to access funds from their accounts internationally.
The announcement was made during a ceremony attended by Mohammad-Reza Farzin, Governor of Iran's Central Bank, and Iran’s Ambassador to Russia, Kazem Jalali, according to the Iranian state news agency IRNA.
The first phase of this project will enable Iranian citizens to withdraw rubles from ATMs in Russia using their Iranian bank cards, according to Digi24.
The second phase will allow Russian citizens to access their accounts while in Iran. In the final phase, Iranians will be able to make purchases in Russian stores using their Iranian-issued cards.
A Step Away From US
"Today, we take a major step toward moving away from the U.S. dollar and facilitating economic relations between Iran and Russia," Farzin stated at the event.
Currently, four Iranian banks have introduced the service, with more expected to join as the necessary infrastructure is implemented.
This financial collaboration builds on two years of planning and reinforces Iran and Russia's economic and military alliance.
Both countries face extensive international sanctions; Russia was cut off from the SWIFT system and lost access to Visa and Mastercard following its full-scale invasion of Ukraine.
Iran has been under long-standing sanctions due to nuclear and geopolitical disputes. With this new connection, both nations aim to ease financial transactions in light of these restrictions.
Iran has supported Russia’s military efforts, reportedly supplying Shahed drones used in attacks against Ukraine. The West views these ties as pragmatic, driven more by mutual benefit under pressure from sanctions than by shared ideology.
