Shetab

Iran's Shetab network is completing its third and final stage of integration with Russia's Mir payment system, with full linkage expected around August 2026. Iran's central bank governor Abdolnaser Hemmati confirmed the timeline on 19 June 2026 in Moscow, framing the goal as achieving payment mechanisms independent of Western financial restrictions. The first stage in 2024 allowed Iranians to withdraw roubles from Russian ATMs; the second in 2025 let Russians pay at Iranian point-of-sale with Mir Pay; the final stage will allow Iranians to pay in Russian shops using their own Shetab cards.

Shetab (Automated Payment System) is operated by the Central Bank of Iran and connects all Iranian banks for interbank transfers, card payments, and ATM access. It was developed in the 2000s as Iran's domestic alternative to Visa and Mastercard networks, from which Iranian institutions are barred. Shetab currently handles the vast majority of electronic retail payments inside Iran.

The Shetab-Mir integration is the most operationally significant bilateral financial infrastructure project between Iran and Russia since the 2022 May intergovernmental agreement. It does not break Western sanctions but creates a parallel settlement corridor that reduces both countries' reliance on dollar-denominated clearing. The project is closely watched by sanctions analysts as a template for other sanctioned-economy payment integration.