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Russia's Mir, Iran's Shetab Link Payment Systems to Bypass Sanctions
Nov 12, 2024, 07:35 AM
Russia and Iran have officially linked their national payment systems, Mir and Shetab, in a move to bypass Western sanctions and reduce reliance on the US dollar. This integration, completed at a ceremony in Tehran, allows Iranian citizens to use their bank cards to withdraw rubles from Russian ATMs and facilitates purchases in both countries interchangeably. The Central Bank of Iran has hailed this as a major step towards de-dollarization, enhancing economic collaboration between the two nations. The first phase of the integration enables holders of Shetab and Mir cards to use their ATM cards in both countries and currencies.
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