Share of national currencies in Russian-Iranian settlements tops 60% - Duma's Volodin

TEHRAN. Jan 23 (Interfax) - The share of the Russian ruble and the Iranian rial in mutual settlements between Russia and Iran currently exceeds 60%, Russian State Duma Chairman Vyacheslav Volodin said at a meeting with Iranian Consultative Assembly Speaker Mohammad Bagher Ghalibaf.

"More efficient cooperation in the financial and banking sector should become one of the key areas for the development of our relations. We need to be more active in using settlements in our national currencies. A lot has been done toward that, and the share of the ruble and the rial in our mutual settlements currently exceeds 60%," Volodin said on Monday.

The record of the joint use of the Mir and Shetab national payment systems has been positive, he said.

"This would enable us to minimize the effect of sanctions, and certainly, this resolves problems related to mutually beneficial cooperation and the increasing of trade between our countries," he said.