Russia and Iran have officially linked their payment systems, Mir and Shetab, in a move to facilitate cross-border transactions and enhance financial collaboration. At a ceremony in Tehran, it was announced that Iranians can now use Shetab cards in Russia, with Russian citizens expected to access Mir services at Iranian ATMs soon.
Currently, Russia’s Mir payment system, promoted by President Putin as part of a “healthy” financial network, is accepted in 12 countries, including Belarus, Kazakhstan, Armenia, and Vietnam. Additionally, eight nations, such as Egypt, India, and Indonesia, are considering joining the system, signaling growing global interest.
Financial analyst Paul Goncharoff highlighted the benefits of this integration, particularly for countries seeking alternatives to traditional financial networks. Countries in the Global South, and those aligned with BRICS, SCO, and ASEAN, are expected to explore similar connections, promoting financial autonomy and closer economic ties in the coming years.
