According to IRNA, Iran’s Financial Electronic Messaging System is prepared to connect to Russia’s Financial Messenger Network (SWIFT) in order to limit bank sanctions.

US has restricted Iranian banks’ access to Swift’s financial messenger system to tighten sanctions but Iran tries to make other alternative ways to be connected with the global financial systems. One of the best ways is to increase cooperation with banks in countries whose interactions with sanctions have been on the rise in the time of sanctions including Russia. Hence Russian SWIFT is a good choice for Iranian banks. Russia is not only an important economic and political partner of Iran but also has a significant value in foreign trade with Iran.

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