Iran Press/ Iran news: Farzin, who recently returned from talks with Russian Central Bank Governor Elvira Nabiullina in St. Petersburg, said the two sides have completed the requirements to connect the Mir and Shetab systems. The project has now entered the operational phase.
In the first stage, which is set to begin on August 22, "bank cards of Iran's Shetab system can be used as Amber smart cards in all ATMs across Russia and Iranian citizens will be able to withdraw rubles from the Russian ATMs using their cards," Farzin said.
The second stage will involve the possibility of Russian citizens using their cards to make payments in Iran. In the third stage, Iranians will be able to pay with a Shetab card in Russian stores via an ordinary bank terminal.
The integration of the Mir and Shetab payment systems is part of the ongoing efforts by Russia and Iran to strengthen their economic ties and reduce their reliance on the US dollar-dominated international financial system.
In April 2024, the Iranian Foreign Ministry announced that the project to use Mir cards had entered the implementation stage. In May 2022, Russian Deputy Prime Minister Alexander Novak also confirmed that the two countries were discussing the connection of the Mir and Shetab payment systems.
The finalization of the integration marks a significant step in the economic cooperation between Russia and Iran, as the two countries seek to insulate themselves from the impact of Western sanctions and build alternative financial infrastructure. 204
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