First Russian bank opens in Iran ...News

Moscow and Tehran have been strengthening ties in the face of Western economic sanctions Russia’s second-largest bank VTB has opened a branch in Iran, the country’s Trade Promotion Organization (TPO) announced on Twitter on Tuesday. VTB is the first ever Russian bank to offer services in the Islamic Republic, according to TPO head Alireza Peyman-Pak. The majority state-owned bank will promote “trade transparency” and play an effective role in transferring part of the foreign exchange earnings to the banking network, Peyman-Pak added in his tweet. Last December, VTB launched a service allowing both individuals and

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First Russian bank opens in Iran ...News

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