Iran And Russia Integrate Banking Systems To Skirt SWIFT Sanctions

A top Iranian official announced this week that Iran and Russia had integrated their interbank communication and transfer systems to help enhance trade and financial operations in an effort to bypass strict economic sanctions on their financial infrastructure. With the signing of the agreement, 52 Iranian and 106 Russian banks are connected through the Russian Financial Message Transfer System, which will facilitate economic relations between the two countries, said Deputy Governor of the Central Bank of Iran Mohsen Karimi. "This system is immune…