Iran, Russia move to link banks to evade Western sanctions

DUBAI, United Arab Emirates (AP) — An Iranian official says Iran and Russia have taken a key step toward linking their banking systems in a move that further boosts their cooperation in the face of Western sanctions. At a signing ceremony on Sunday, Mohsen Karami, the deputy central bank governor, said banks in the two countries had connected their messaging networks following agreements reached over the past year. It was not clear whether those links would allow for the transfer of funds, and services were not yet available to bank customers. Karami says 100 banks in 13 other countries are connected to the network, without naming them.