TEHRAN, December 23. /TASS/. The Russian business will save about $300 mln annually on duties after the free trade agreement between Iran and the Eurasian Economic Union comes into effect, Russian Deputy Prime Minister Alexey Overchuk told reporters.

"Entry of this agreement into force will mean saving about $300 mln on duties annually for the Russian business," the official said.

Russia "is highly interest in its operation to start as soon as practicable," Overchuk noted. "So that our goods go to the Iranian market without duties quicker and, certainly, for Iranian goods to saturate our market and thereby improve the price situation, improve the supply on our market," he added.

The full-scale free trade agreement with Iran was signed by member-countries of the Eurasian Economic Union on December 25, 2023.