TEHRAN, Iran, October 31. Iran has started the primary works to launch a mechanism for rial-ruble trading, a member of the Iran-Russia Joint Chamber of Commerce Jalal Jalalifar told Trend.
The banking system for this type of trade has not been formed, however, the primary works for launching the mechanism have been started.
Jalalifar pointed out that there have been simultaneous cases of agreements between Iranian and Russian businessmen to trade the rial with the ruble.
The operation of the rial-ruble trade mechanism requires national infrastructures and the system is being formed but it’s difficult to operate in the commercial and banking sector, he noted.
Governor of the Central Bank of Iran Ali Salehabadi announced last month that Tehran and Moscow will expand the use of national currencies in transactions to other areas of bilateral trade. In late July, Salehabadi announced that the Tehran Stock Exchange had launched the rial-ruble trading.