Bank officials in Tehran said on Sunday that a mechanism to transfer money to the countrys banks from Russia is now on stream. Gholam-Reza Panahi, the deputy governor for currency affairs of Bank Melli of Iran (BMI), said the mechanism enables Iranian exporters to transfer payments in rubles from their Russian clients to Iran through the Moscow-...

Jan 27 (Reuters) - Russia and Iran plan to create a mutual account for bilateral payments in national currencies, RIA news agency quoted Mehdi Sanaei, Iran's ambassador to Moscow, as saying. "Both sides plan to create a mutual bank or a mutual account to make payments in rials and roubles possible," the ambassador said. By Reuters   The ...

TEHRAN (FNA)- A senior Iranian lawmaker announced that Tehran and Moscow have a plan to replace the US dollar with their national currencies in bilateral transactions. "Replacing (the US) dollar with ruble in bilateral and multilateral transactions between Iran and Russia tops the agenda of the upcoming visit of an Iranian delegation to Russia," member ...

Iran has sent a high-level delegation, led by top official Ali Shamkhani, to Damascus for talks with Syrias President Assad. Shamkhani has increasingly been used as a political fixer in the Iraqi and Syrian crises. Iranian State media put out Shamkhanis template declarationof cooperation: The principled stance of the Islamic Republic of Iran regarding ...

[caption id="attachment_119376" align="alignright" width="178"] The Central Bank of Russia on Neglinnaya Street in Moscow. (RIA Novosti/Vitaliy Belousov)[/caption] The ruble slid to a new record low of 39.71 against the dollar Tuesday. The Russian Central Bank has been quick to quash fears it would re-introduce capital controls to limit the amount ...

The Russian ruble hit yet another record low against the dollar on Thursday as the European Union prepared to hit Moscow with harsher sanctions over the Ukraine crisis. The ruble fell to 37.57 against the dollar at about 1135 GMT, a new record after it fell to 37.51 on September 1. The ruble also fell against the euro, and the Moscow stock markets ...

[caption id="attachment_115914" align="alignright" width="260"] Russia and China pledged to settle more bilateral trade in ruble and yuan.[/caption] In response to Washingtons new sanctions against Russia, Moscow is planning to cooperate with China in order to use their currencies more in bilateral trade instead of the US dollar. Russian Deputy Prime ...