Mir Business Bank

"The transactions with national currencies between Iran and Russia have always been discussed, but due to fluctuation in foreign currency rate, there are some issues that need to be fleshed out in details. Iran is trading with ruble via Mir Business Bank in Moscow and Astrakhan,' [the Director General of Europe and America at Trade Promotion Organization of Iran Behrouz Olfat] said." (Trend, "Iran seeks to integrate with Russia's 'Mir' payment system," 7/16/20)

--

 "Bank Melli Iran, the nation’s biggest bank, is planning to establish a branch of its subsidiary Mir Business Bank–based in Russia– in Iran, a member of its board said." (January 24, 2018)

--

"A Moscow-based subsidiary of Iran's state-run Bank Melli is facilitating money transfer between Iran and Russia, which are both slapped with US sanctions, Iran's ambassador to Russia says. 'Following measures undertaken by Bank Melli of the Islamic Republic of Iran, transfer of money between Iran and Russia through Mir Business Bank in Moscow and the foreign exchange section of Bank Melli in Tehran is possible at any level,' Mehdi Sanaei said in a meeting with a group of Iranian manufacturers based in the Russian capital. He said the previous obstacles like high tariffs on exports, money transfer restrictions and visa problems have been largely overcome." (PRESSTV, "Moscow-based bank facilitates Iran-Russia trade," 2/3/15)

--

"Washington warned Moscow that the activities of a sanctioned Iranian bank in Russia could affect Russian banks that do business with the U.S., a Treasury official said. The bank, Moscow-based Mir Business Bank CJSC, has become a conduit for Iranian businessmen looking to keep trade flowing despite severe restrictions on Iran's financial system, according to trade records and Iranian businessmen who use the bank." (The Wall Street Journal, "U.S. Warns Russia on Iranian Bank," 12/11/12)