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Iran Private Banks Sign Deals With Russia’s EXIAR

Iran Private Banks Sign Deals With Russia’s EXIAR Iran Private Banks Sign Deals With Russia’s EXIAR

Russian agency for export credit and investment insurance, EXIAR, signed an agreement each with Bank Pasargad Iran and Parsian Bank on the sidelines of the 13th meeting of Iran-Russia Economic Commission in Tehran on Tuesday.

The agreements aim to help ease Russian imports to Iran and boost trade cooperation through opening lines of credit, BPI’s website reported. Parsian Bank’s website also announced that EXIAR has set a €70 million cap for the bank to finance trade between the two countries and issue guarantees for traders.

According to TCCIM.ir, Iranian imports from Russia amounted to $1.1 billion during the seven-month period ending October 21.

Iran and Russia signed 10 agreements on the sidelines of the event to expand ties in various sectors, including energy, mining and banking.

Minister of Communication and Information Technology Mahmoud Vaezi and the head of the joint commission said the latest talks have resulted in a major improvement in banking relations between the two countries.

“Details will be announced in the near future,” he said. Russian Agency for Export Credit and Investment Insurance.

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