Iran: Signing 12 Memorandums of Understanding with Russia in the Automotive Industry and Expanding Operations in National Currencies

Iranian government spokesman Ali Bahadari Jahromi announced today, Sunday, the signing of 12 memorandums of understanding with Russia in the field of auto parts production worth 700 million euros.

The spokesman added that the implementation of these agreements has begun in local currencies and through the ruble-rial mechanism.

For his part, Governor of the Central Bank of Iran Ali Saleh Ebadi confirmed that transactions with the ruble and rial are expanding, including other areas of exchange between Russia and Iran.

Commenting on the latest developments in financial and commercial exchanges between Iran and Russia using the national currencies of the two countries, he said that “the use of national currencies in financial transactions is one of the government’s priorities and was started with the ruble and rials.” .”

He added: “Currently, the ruble and the rial are traded on markets agreed between the two countries, and this mechanism will be extended to other areas.”

Source: RT

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