TEHRAN, Nov. 12 (Xinhua) -- According to the Islamic Republic of Iran News Agency (IRNA), the payment systems of banks in Iran and Russia were formally connected on Nov. 11, which means that the two countries have taken an important step towards strengthening economic cooperation and “de-dollarization”.

　　Mohammad Reza Farzin, governor of the Central Bank of Iran, and other figures attended the ceremony held in the Iranian capital, Tehran, on the same day.

　　According to the report, the project of connecting the payment systems of the two countries' banks will be carried out in phases. In the first phase, Iranian citizens in Russia can use Iranian bank cards to withdraw rubles from Russian ATMs. In the second phase, Russian citizens in Iran can use their Russian bank cards to withdraw Iranian currency rials from Iranian ATMs. In the third stage, Iranian citizens can use their bank cards to make purchases in Russian stores.

　　Also according to Iran's Fars News Agency, Farzin said at the ceremony that the cooperation is an important step for the two countries to reduce their dependence on the US dollar and promote bilateral economic cooperation.

　　As previously reported by IRNA, the governor of the Central Bank of Iran and the governor of the Central Bank of Russia met in Russia in December last year and reached an agreement not to use the US dollar in commercial activities but to make direct transactions in their national currencies.