Ruble-Rial stock stands at over 60 percent in Iran-Russia ex...| MENAFN.COM

Thursday, 09 February 2023 05:26 GMT

Ruble-Rial stock stands at over 60 percent in Iran-Russia exchange


(MENAFN) The stock of the ruble and the rial in joint expenditures between Iran and Russia reached more than 60 percent, Vyacheslav Volodin, the speaker of Russia’s State Duma, made an announcement.

According to Russia Today, making the comments in an administration conference on Monday, Volodin stated, “It is important to use settlements in national currencies more actively. Much has already been done in this regard – now the share of the ruble and the rial in mutual settlements exceeds 60 percent. The work on the joint application of national payment systems is being completed. This will minimize the impact of sanctions, but also, of course, address issues related to mutually beneficial cooperation,”

As said by Volodin, the two nations should now stress on improving the efficiency of mutual collaboration in the economic and banking sectors, especially, by rising the use of national currencies in their trade exchanges, through the Russian ‘Mir’ and Iranian ‘Shetab’ payment systems.

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