A Russian bank opened a representative office in Iran for the first time

Ali Rıza Peymanpak, Head of the Trade Development Organization affiliated with Iran’s Ministry of Industry, Mining and Trade, announced that VTB Bank, Russia’s second-largest bank, has opened a representative office in Iran in his post on his Twitter account. Twitter.

IT WILL BE EFFECTIVE ON COMMERCIAL TRANSPARENCY

Peymanpak said: “As a result of the continuous efforts of the Business Development Organization, VTB Bank, the second largest bank in Russia, has opened its representative office in Iran. “This is the first Russian bank with a direct presence in Iran and it will be instrumental in transferring some of its foreign exchange income from the trust network to the banking network and trade transparency.”

Iran and Russia, under the sanctions of Western countries, especially the US, are trying to phase out the dollar from banking transactions and bilateral trade by increasing their trade and financial cooperation. (AA)