Russia's VTB Leads Moscow's Efforts to Strengthen Banking Presence in Iran

May 17, 2023



Related Country: 

  • Russia

The Russian state-owned bank VTB opened a representative office in Iran. The Iranian government is also planning to allow consumers to use Russia's Mir card payment system within Iran. Russian state-owned Promsvyazbank is already present in Iran. Sberbank, another large Russian financial institution, discussed strengthening its ties with Iran but has not yet entered the Iranian market.