Commercial banks from Russia and Iran have agreed to pay for bilateral supplies of products in national currencies, the Central Bank of Russia said in a statement Friday.

MOSCOW (Sputnik)�� According to�the statement, the agreement was signed on�Thursday in�the course of�the 4th plenary session of�the Permanent Russian-Iranian Commission on�Trade-and-Economic Cooperation�s working group on�financial and banking cooperation in�Iran. The Russian delegation was headed by�Bank of�Russia Deputy Governor Dmitry Skobelkin, while the receiving party was headed by�Vice Governor of�the Central Bank of�Iran Gholamali Kamyab. "During the meeting, agreements were signed between�the commercial banks on�the financing of�mutual supplies of�products using in�the [respective] national currencies," the statement said.

Aside from�signing the deal, the meeting participants discussed issues of�the further development of�cooperation in�the banking sector, including the establishment of�correspondent relations, the development of�bilateral trade in�national currencies as�well as�combating money laundering and the financing of�terrorism.

In June, Hossein Yaghoubi Miab, the director general of�the international affairs department of�Iran's Central Bank, told Sputnik that Tehran and Moscow could reach an official agreement on�making transactions in�national currencies "very soon."

By Sputnik