(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 5. Diplomatic relations between Iran and Russia have reached the level of a strategic partnership, Iranian Ambassador to Russia Kazem Jalali said during a meeting with a group of Russian intellectuals, Trend reports.

Jalali noted that this development has led to a rise in high-level reciprocal visits between the two countries, with Russian President Vladimir Putin expected to visit Tehran in the near future.

He stressed that the Comprehensive Strategic Partnership Agreement between Iran and Russia, along with the free trade agreement between Iran and the member states of the Eurasian Economic Union (EAEU), is further strengthening bilateral ties.

The official also pointed to banking cooperation as another key example of deepening relations. Russia's Mir and Iran's Shetab payment networks are now connected, allowing banking transactions for small businesses, students, and tourists. This system will continue to improve in the future, he said.

The agreement was signed by the Presidents of Iran and Russia in Moscow on January 17, 2024. The agreement covers not only trade and economics but also cooperation in fields such as innovation technologies, peaceful nuclear energy, information and cybersecurity, counterterrorism, the Caspian Sea, and environmental issues.

A free trade deal was inked between Iran and the Eurasian Economic Union in St. Petersburg, Russia, on December 25, 2023. Following the implementation of the newly inked agreement, trade turnover is anticipated to attain $18-20 billion within five to seven years.

On March 15, 2025, Iranian President Masoud Pezeshkian formally instructed relevant state bodies to begin implementing the free trade law, which underpins the agreement with the EAEU.

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