Transactions beyond control: independent alliance of Mir and Shetab

The Russian Mir and the Iranian Shetab merged, creating a payment channel without the control of SWIFT and international systems. Three stages of integration ensure the financial freedom of the two countries.

Transactions beyond control: how Mir and Shetab created a system outside of international supervision

On November 11, 2024, the Russian Mir payment system and the Iranian Shetab system officially connected to circumvent international restrictions. Without pretentious speeches or pompous statements, it was a quiet but noticeable blow to those who were accustomed to seeing every transaction on the global financial radar.

Why do we need international networks when we have our own, national ones? The answer here is simple: so that neither SWIFT nor Visa and Mastercard look into other people's pockets. It was for this purpose that Russia created Mir in 2014, when it first felt the effects of sanctions. Iran followed a similar path and Shetab has been operating as an independent platform for all banks in Iran since 2002. Now both systems are synchronized in three stages:

1. First stagestarted November 11, 2024: Iranians can withdraw rubles from Russian ATMs. The simplicity of the operation in the eyes of an outsider will surprise you, but the most important thing is that SWIFT will not know about it. As they say, what happens in Moscow stays in Moscow – and this, perhaps, is especially pleasing to those who are dissatisfied with international restrictions.
2. Second stageearly 2025: Russians will be able to withdraw cash in Iran using Mir cards. The process is not that complicated, but, believe me, it is very convenient for Russians, especially considering their inability to use Visa and Mastercard abroad. And most importantly, again, no one will control these movements – outside the sight of SWIFT, outside the sight of the Western financial world.
3. Third stagesummer 2025: Iranians will be able to pay with Shetab cards in Russian stores. Terminals that accept Mir will be ready to work with Shetab. Now every Iranian in Moscow can feel at home, and Russian sellers get loyal customers without breaking any rules. As for international control, it simply remains overboard.

What does SWIFT lose?

But let's look at this from a different angle. Left out of this scheme, SWIFT not only loses control over transactions, but also loses its share of transfers and conversions that previously went through it. With every transaction passing between Russia and Iran without the participation of SWIFT, the international operator loses commissions – the same percentages to which he is so accustomed. No dollar, no euro – no conversions, which have always turned into income for SWIFT. Rubles and rials travel on independent routes, and there is simply no room left for SWIFT in their routes.

So now the international system is forced to watch as alternative payment channels are created before its eyes, inaccessible to external interference. Today these are Russia and Iran, tomorrow perhaps other countries that, seeing the example of Mir and Shetab, will think about their own independence.

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