Russia encourages Iran's potential entry into Eurasian Economic Union

(MENAFN) Deputy Prime Minister Alexey Overchuk of Russia recently announced Moscow's openness to Iran joining the Eurasian Economic Union (EAEU) as an observer member, potentially by the end of 2024. Overchuk conveyed this message following discussions at the EAEU Intergovernmental Council meeting, underlining that certain procedural steps must precede Iran's accession to the economic bloc.

Overchuk emphasized the importance of adhering to specific protocols before Iran's inclusion as an observer member, suggesting that if these initial measures are promptly undertaken, a decision on Iran's status within the EAEU could materialize by the close of December this year.

Moreover, Overchuk underscored Russia's keenness to bolster economic ties with Iran, highlighting the EAEU's commitment to fostering mutually beneficial and equitable cooperation with all interested nations. This stance signals Russia's willingness to enhance collaboration with Iran in various economic domains.

The Eurasian Economic Union, an international economic consortium comprising Belarus, Kazakhstan, Russia, Kyrgyzstan, and Armenia, serves as a platform for promoting economic integration and facilitating trade among member states. Presently, Uzbekistan, Moldova, and Cuba hold observer status within the EAEU, participating in discussions and deliberations on economic matters.

Iran's formal expression of interest in joining the EAEU as an observer member aligns with its strategic objectives to expand economic partnerships and strengthen regional ties. The submission of Iran's request by its ambassador to Moscow underscores the country's commitment to exploring avenues for closer economic collaboration with Eurasian countries.

As discussions progress and procedural requirements are met, Iran's potential inclusion as an observer member in the EAEU represents a significant milestone, offering new avenues for economic cooperation and regional integration. This development underscores the evolving dynamics of economic alliances in the Eurasian region and highlights the growing importance of multilateral partnerships in shaping global economic landscapes.

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