The Russian Export Bank, known as "Eximbank," has initiated financial settlements in rubles with the Islamic Republic of Iran, according to a report from the Russian Export Center. The bank's chairwoman, Tatyana Sakharova, stated in the report, "In support of exporters, we have launched financial settlements with the Iranian side, and today we are successfully making transfers in Russian rubles under foreign trade contracts within the framework of Russian-Iranian cooperation."
Additionally, the Russian bank has the opportunity to make payments in Iranian rials using correspondent accounts opened with banks in Iran, provided that the Russian exporter agrees to accept the Iranian rial as payment for goods and services rendered. It is worth noting that "Eximbank" is a state-owned bank that is part of the Russian Export Center group.
In a related development, Sberbank, the largest bank in Russia, announced in early September that its clients can now transfer money to Iran, signaling Moscow and Tehran's intent to strengthen banking, financial, and trade relations. Notably, at the end of May, the governor of the Central Bank of Russia, Elvira Nabiullina, made a working trip to Iran aimed at enhancing banking and financial relations and establishing communication channels between Russian and Iranian banks as an alternative to the "SWIFT" system.
