Iran and Russia link payment systems to bypass US sanctions, allowing cash withdrawals in each other’s ATMs.

Iran and Russia have connected their national payment systems, Mir and Shetab, to bypass the US dollar in their transactions. This move, aimed at countering US sanctions, allows Iranians to withdraw rubles from Russian ATMs in the first phase, with subsequent phases enabling Russians to withdraw cash in Iran and Iranians to make purchases in Russia. The linkage reflects the two countries' efforts to strengthen economic ties and reduce reliance on the US dollar.

November 11, 2024
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