Iran, Russia to Establish Joint Bank

By John Lee.

Iran and Russia agreed on Thursday to set up a joint bank to help facilitate financial transactions between the two countries.

The agreement was announced by the Central Bank of Iran (CBI), following a meeting between the visiting Russian Energy Minister Alexander Novak and CBI Governor Vaiollah Seif [Valiollah Seif] (pictured).

The two also agreed for Iran to join the Eurasian Development Bank, and emphasized that both Iran and Russia need to cooperate on the establishment of a major interbank network.

(Source: PressTV)

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