OREANDA-NEWS Russia and Iran are going to use new payment methods that will simplify business cooperation between the two countries, Rahimi Mohsen, trade attache of the Iranian Embassy in Russia, told Izvestia.

We are talking about digital currencies of central banks (CB) and digital financial assets (CFA). It is noted that the use of the digital ruble and the crypto real will help mitigate the effects of sanctions, but infrastructure and regulations need to be created to use them.

The digital ruble is expected to become an alternative form of national currency along with cash and non-cash rubles. It will be issued by the Bank of Russia, which will also become the operator of the platform where it will be possible to store digital rubles and perform transactions with them. The head of the Bank of Russia, Elvira Nabiullina, believes that the transition to the mass use of the digital ruble will take from five to seven years.

CFA refers to assets in the form of digital rights recorded as program code in a distributed registry, which can be secured by metals, shares or financial obligations of corporations. In March 2024, Russian President Vladimir Putin signed a law allowing the use of this tool in international settlements.

Earlier, the deputy head of the Central Bank of Iran, Mohsen Karimi, said that countries disconnected from the SWIFT interbank messaging system "no longer need Switzerland" for communication, since the new method allows you to pay directly. According to him, Iranian exporters can issue invoices in rials to the Russian side and receive money from Russian banks in their country.

Dmitry Antonov, business Ambassador of Delovaya Rossiya in Iran, recalled that the state is discussing the possibility of jointly launching a gold-backed token of the Persian region with Russia, which can be accepted as a means of payment.