This move comes after the visit of the governor of the Central Bank of Iran, Mohammad Reza Farzin, to Russia to increase monetary and banking cooperation and to reinforce relations in the framework of free trade between Iran and the Eurasian Economic Union.
The line of credit was opened between Melli Bank of Iran and Sberbank of Russia to finance the import of Iran’s need for basic goods.
This is a significant step towards developing cooperation between Iran and Russia after the signing of the free trade agreement with Eurasia.
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