INSUBCONTINENT EXCLUSIVE:
Iranian bank cards can now be used in Russia, Iranian state television reported, marking a new effort by Tehran and Moscow to counteract
Western sanctions through strengthened financial cooperation.Iranian banks have been cut off from the SWIFT international payment system
since 2018, following the U.S
withdrawal from the 2015 nuclear deal and re-imposition of sanctions
Similarly, Russian banks have faced SWIFT exclusions after Moscow invaded Ukraine in 2022.On Monday, state broadcaster IRINN aired footage
showing an ATM in Russia dispensing cash when used with an Iranian bank card
IRINN noted that in-store card payments will be possible in the near future."The plan is also going to be implemented in other countries
that have a wide range of financial and social interactions with Iran, for example, Iraq, Afghanistan and Turkey," the channel said.The new
linkage follows a June agreement between Iran and Russia to boost banking cooperation as both countries face economic pressure from Western
Moscow has been actively promoting the creation of a global alternative to the SWIFT system, from which several major Russian banks have
been excluded since 2022.Once fully implemented, Russians will also be able to use their Mir cards in Iran, according to IRINN, though no
