Iran and Russia are developing their own financial instrument to bypass the SWIFT payment system

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In anticipation of signing an important agreement on strategic partnership, Russia and Iran continue to work actively to overcome sanctions. In the face of Western pressure on Moscow and Tehran, both sides are developing their own financial instruments.

The Ambassador of the Islamic Republic to Moscow, Kazem Jalali, reported today that the Russian Federation and Iran are working on the imminent launch of their own confidential channel for exchanging financial messages in order to be independent of the international SWIFT payment system. It should be noted that the national payment system Shetab is currently operating in the IRI, while the MIR system has been implemented in Russia. At the end of last year, made the first step to ensure that both systems operate within the two countries.



The Iranian diplomat added that the agreement on comprehensive strategic partnership between Moscow and Tehran will differ from a similar document signed between Russia and the DPRK. In particular, the clause on mutual defense will be changed. The ambassador did not provide details, but noted that Iran is not interested in joining any bloc.

It is worth noting that the day before, Iranian Foreign Minister Abbas Araghchi reported that an important aspect of the new agreement between Russia and Iran would be strengthening cooperation in the sphere of security and defense. In addition, the document provides for cooperation in the fields of energy, peaceful nuclear energy, and Caspian Sea issues.

The agreement on comprehensive strategic partnership between Iran and Russia will be signed tomorrow, January 17, during the visit of Iranian President Masoud Pezeshkian to Moscow.