VTB Bank Can Underpin Iran-Russia Trade Ties

The establishment of Russia's second-largest bank, VTB Bank, in Iran is expected to help lift trade between the two sides and other foreign nations, according to leading economists. 
Shahin Shayan-Arani, an economist, outlined the positive move by the Central Bank of Iran saying that the launch of a VTB branch in Iran would undoubtedly benefit both sides.
"This is a positive step by the CBI to support economic and trade between both countries," Shayan-Arani said in a talk with IBENA. VTB opened a representative office in Tehran this week.
He expressed optimism about other dimensions of establishing the office, stating that it is a sign of the revival of cooperation between a reputable international bank and Iranian businesses who have working relations in and with Russia and other countries.