Iran-Russia annual trade to increase to $10 b from $4 b| MENAFN.COM

Monday, 04 July 2022 06:25 GMT

Iran-Russia annual trade to increase to $10 b from $4 b

(MENAFN- Trend News Agency)

The head of the Russia-Iran parliamentary friendship group said, 'Currently, the volume of trade between Iran and Russia is $ 4 billion it is expecte to reach $ 10 billion annually after President Raeisi's visit, Trend reports citing Mehr .

Speaking to reporters, Ebrahim Rezaei, the chairman of the Russia-Iran parliamentary friendship group at the Iranian parliament pointed to the recent visit of President Ebrahim Raeisi and his accompanying delegation to Russia and said, 'The two-day visit took place at the invitation of the Russian President in order to expand economic, political and cultural interactions between Iran and Russia, and the president Ayatollah Raeisi received a warm welcome by all Russian statesmen, especially president Vladimir Putin.'

The Russians, especially large oil companies, are expected to invest in Iran's oil fields, the lawmaker said.

'The volume of Iran's trade with Russia is now $ 4 billion, which will increase to at least $ 10 billion with the agreements reached,' Rezaei added.

He said that exports of crops to Russia are expected to increase, he also pointed out, adding that 'Due to the fact that the route to Europe should cross Iran, it was decided to complete and launch the north-south corridor.'

He went on to say that the construction of a railway, the development of land routes and the sea line are among the agreements reached during the president's visit to Russia.

The chairman of the Russia-Iran parliamentary friendship group pointed to the removal of barriers to the export of Iranian products to Russia as another agreement reached during the visit, and said that customs barriers to speed up the export of Iranian goods and products to Russia are going to removed.


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