Russia, Iran Coordinating Their Systems As Alternative to SWIFT - Kremlin Aide
Russia and Iran are organizing cooperation between the Russian financial messaging system and Iran's SEPAM as an alternative to making payments through SWIFT for protection against third countries' sanctions, Russian presidential aide Yury Ushakov told reporters Friday
MOSCOW (Pakistan Point News / Sputnik - 13th September, 2019) Russia and Iran are organizing cooperation between the Russian financial messaging system and Iran's SEPAM as an alternative to making payments through SWIFT for protection against third countries' sanctions, Russian presidential aide Yury Ushakov told reporters Friday.
"In order to protect bilateral trade and economic ties from the sanctions of third states, measures are being taken to expand direct settlements, use national currencies, establish interaction between the Russian financial messaging system and Iran's SEPAM as an alternative to making payments through SWIFT," Ushakov said.