Russia’s VTB Bank opens representative office in Tehran

Gisoo Misha Ahmadi
Press TV, Tehran

Russia’s second-largest bank, VTB, has opened a representative office in Iran as Moscow and Tehran consolidate their financial and banking relations.

The two allies are both restrained by Western sanctions and seek to improve their trade and transaction capabilities.

The development comes after a deal was signed in the Central Bank of Iran allowing Russian individuals and businesses to transfer money to and from Iran.

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