Finance

A massive cyberattack that hit Iran last month threatened the stability of its banking system and forced Tehran to agree to a ransom deal of millions of dollars, Politico reported citing people familiar with the case. The Islamic Republic has yet to respond to the claim.

The secretary of the policy-making council of the 14th Iranian financial industry event says Russia’s largest bank which holds an asset value of 290 billion dollars, will certainly participate in this year's Stock Exchange, Bank and Insurance Exhibition in the Islamic Republic.

The Deputy for International Affairs at the Central Bank of Iran (CBI) detailed the monetary agreement between Iran and Russia aimed at achieving de-dollarization, stating that this move pushes the Iranian Rial towards being unsanctionable.

The first and foremost challenge for Iran’s newly elected reformist President Massoud Pezeshkian is to fall into steps with the directives of the Financial Action Task Force (FATF) watchdog in order to reap its economic interests, a newspaper argues.

Iran’s Central Bank governor says from late August, Iranians can withdraw money from Russian ATMs with Iranian bank cards.

In a forward-looking proposal, Governor of the Central Bank of Iran Mohammad Reza Farzin suggested the establishment of an institution akin to the Financial Action Task Force (FATF) among BRICS nations.

Tehran and Moscow have officially switched from the West’s SWIFT financial clearing system to a direct interbank transfer mechanism, the deputy head of the Central Bank of Iran (CBI) has stated.

Nour News, which is affiliated to Iran's Supreme National Security Council, has rejected a US media report that Tehran had been barred from accessing its $6 billion funds recently unfrozen and transferred to Qatari banks.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf says BRICS has its own money transfer system which can replace US-owned SWIFT.  

Tehran and Doha have agreed a mechanism that allows Iran to tap into funds recently unfrozen and deposited into bank accounts in Qatar as part of an agreement with the United States.

An Iranian foreign policy expert says before pursuing India-Europe trade routes, Iran should resolve the issue of sanctions and addressing the FATF (Financial Action Task Force) concerns.

Qatar has confirmed that unfrozen Iranian funds worth $6 billion have been transferred to bank accounts in Doha, a source briefed on details of the matter told Reuters on Monday.

US State Department spokesperson Matthew Miller has stated that Iran's frozen assets will expectedly be transferred to the "final destination" in Qatar in the "coming days or so".

Iranian President Ebrahim Raeisi has stressed Tehran’s full authority on its recently-unblocked funds, saying it is the Islamic Republic that decides how to spend the funds and that the money will be spent "wherever we need it."

The Biden administration has issued a blanket waiver for international banks to transfer six billion dollars in blocked Iranian assets from South Korea to Qatar with no concern about Washington's sanctions.

Russia’s largest lender Sber is offering a new service that allows its clients to transfer money to Iran, the bank announced on Thursday.

Iran's Foreign Minister Hossein Amirabdollahian has stated that a recent agreement reached to unblock the country’s frozen funds in South Korea will open a new chapter in the two country’s relations.

Iran and Russia have signed a five-year cooperation agreement on the standardization of products traded between the two countries, in particular non-industrial goods and halal products, the Iranian Embassy in Russia has announced.

In a shocking revelation, the Prosecutor of Tehran has announced the investigation into a major embezzlement case involving a staggering amount of 29 thousand billion rials in one of Tehran's state banks.

Iranian Foreign Minister Hossein Amirabdollahian has stated that Tehran has no more funds frozen in any country due to the US sanctions and that Tehran can now utilize its own assets.

Iranian assets that had been blocked in South Korea were transferred to Switzerland's central bank last week for exchange and transfer to Iran, South Korean media reported on Monday.

Tehran has received the “necessary guarantees” that its assets blocked abroad due to the US sanctions will be unblocked under an agreement mediated by regional friends, Iranian Foreign Ministry Spokesperson Nasser Kanaani told reporters on Monday.

Governor of the Central Bank of Iran Mohammad Reza Farzin has stated that Iranian funds recently unblocked in South Korea as part of a prisoner swap agreement with the United States will be deposited to accounts held by Iranian banks in Qatar despite reports suggesting that Qatar’s central bank will have control over the funds.

The Iranian Foreign Ministry says the process of releasing billions of dollars from the assets of the Islamic Republic of Iran, which were illegally seized in South Korea by the United States for several years, has begun.

A top member of Iran’s parliament has warned that Tehran has many options to force South Korea to pay back over $7 billion of Iranian funds that have remained blocked in the Asian country under the pretext of compliance with US sanctions.