Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Early US intel assessment suggests strikes on Iran did not destroy nuclear sites, CNN reports, citing sources
Israeli media platform: An additional soldier has been confirmed killed in the serious incident in Gaza, who had previously been considered "missing" for some time
Pezeshkian: History will not forget how Iran’s enemies broke their pledges and agreements, resorting to aggression and invasion even during negotiations
Israeli media: Between 14 and 16 soldiers were injured in the incident, which reportedly involved two separate units at the brigade and division level
Israeli media: Three soldiers were declared killed at the scene, while others remain missing on the battlefield amid serious concerns over their fate
Israeli media: The rescue force that arrived to assist it fell into another ambush
Israeli media: A Puma armored personnel carrier was ambushed and set on fire in the Gaza Strip
Pezeshkian: The side that imposed this war is a terrorist enemy, yet Iran is the side that defined its end with the will and strength of its great and glorious people.
Pezeshkian: The entire world beheld the great power of Iran, embraced by the support of its people
Pezeshkian: This war was imposed upon our people, born of the reckless adventure and incitement of the Zionist entity

Iran to join Mir banking system within months: Iran Finance Ministry

  • By Al Mayadeen English
  • Source: Agencies
  • 17 Aug 2022 16:38
2 Min Read

The Mir banking system is Russia's alternative to SWIFT, a way paved to curb Western sanctions.

  • x
  • Mir
    Russia's Mir banking card.

The Iranian finance ministry's banking and insurance department said Tuesday that Iran could join Mir payment system within months of when talks between Tehran and Moscow reach a conclusion - this, according to Qorban Eskandari, the department's head, could be in the very near future. 

According to Eskandari, however, the talks on Mir between the two countries are restricted to bilateral financial ties and countries that have access to Mir's banking services. 

Launched in 2017, Mir is a Russian banking system, meaning both "peace" and "world" in the language. With the West's current isolation measures of Russia, Iran, Cuba, and other countries from the SWIFT banking system, friendlier alternatives have been on the rise in a bid to combat the West's economic hegemony and aggression. 

Related News

World biggest economies looking for USD alternatives

Sri Lanka to join Russia's Mir system, resumes flights to Russia

South Korea and Turkey, in addition, have also joined Mir, and several former Soviet republics benefit from its services. The United Arab Emirates is also looking to join Mir in the future.

Last month, authorities in the Iranian foreign ministry announced that they will soon begin to accept Mir cards for transactions. The development in economic relations came during rising reports that Tehran and Moscow were working on expanding economic relations to combat US sanctions. 

On July 23, Iran's Currency Exchange (ICE) launched a currency pairing system that enables exporters and importers to make payments in both the Iranian rial and the Russian ruble. 

Last February, Russian banks were excluded from the SWIFT interbank payment system by the decision of the European Commission and its allies. The maneuver was intended to hit the country's banking network and its access to funds via SWIFT, which is pivotal for the smooth transaction of money worldwide.

  • Mir banking cards
  • Russia
  • Iran

Most Read

Iranian President Masoud Pezeshkian attends a protest following the US attacks on nuclear sites in Iran, in Tehran, Iran, Sunday, June 22, 2025. (AP)

Iran declares victory as ceasefire forces Israeli retreat

  • Politics
  • Today
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches strikes on Israeli targets, despite alleged ceasefire

Iran victorious as ceasefire with 'Israel' takes effect

  • Politics
  • Today

Coverage

All
The Ummah's Martyrs

Read Next

All
Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani, right, speaks with Iranian Foreign Minister Abbas Araghchi during their meeting in Tehran, Iran, Monday, Aug. 26, 2024. (AP)
Politics

Qatar confirms US request to mediate Iran-'Israel' ceasefire

A Palestinian girl waits to collect donated food at a food distribution kitchen in Deir al-Balah, Gaza Strip, on May 30, 2025. (AP Photo/Abdel Kareem Hana)
Politics

Weaponization of food in Gaza constitutes war crime: UN

US President Donald Trump speaks from the East Room of the White House in Washington, Saturday, June 21, 2025. (Carlos Barria/Pool via AP)
Politics

Trump’s surprise ceasefire shakes US officials and allies: NYT

US strikes deliberately avoided Iran’s Isfahan reactors: Bloomberg
Politics

US strikes deliberately avoided Iran’s Isfahan reactors: Bloomberg

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS