Economy, Domestic Economy
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Trade in Rial, Ruble

Trade in  Rial, Ruble Trade in  Rial, Ruble

Iran and Russia will use the Iranian rial and the Russian ruble in their foodstuff trade and probably in their other deals in the near future, Mehr news agency cited Asadollah Asgaroladi, head of Iran-Russia joint chamber of commerce, as saying on Tuesday. The Russian “Million Bank” is to establish a branch in Iran in order to ease trade process, he added. Tehran and Moscow have expressed interest in strengthening bilateral trade, while supervising effectively over the quality and health index of the products, preserving the prices at acceptable level, increasing the volume of foodstuff products and their diversity. Iran has recently announced readiness to up its foodstuff production in a bid to increase its exports to Russia.

Financialtribune.com