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29 Jan, 09:09

Trade turnover between Iran, Russia to reach $20 bln — Russian expert

The implementation of the partnership agreement between the two countries will create conditions for an even wider cooperation, Leonid Lozhechko noted

MOSCOW, January 29. /TASS/. Trade turnover between Russia and Iran may reach at least $20 bln in money terms in the near future, after the signing of the agreement on supplies of Russian gas to the Islamic republic among other things, Chairman of the Russian-Iranian Business Council Leonid Lozhechko said in an interview with Iran’s IRNA news agency.

"Following the signing of the Treaty on Comprehensive Strategic Partnership between Moscow and Tehran and a full-fledged agreement on free trade between Iran and the Eurasian Economic Union (EAEU), as well as their implementation, trade turnover will grow several-fold in the near future. Whereas after the signing of the agreement on supplies of Russian gas to Iran it will reach at least $20 bln," he said.

The implementation of the partnership agreement between the two countries will create conditions for an even wider cooperation, the expert noted, adding though that currently real trade turnover between Iran and Russia is higher than the official figure of $4 bln as "a portion of Iranian products, such as fruits and vegetables, is exported to Russia through third countries."

Russian Deputy Prime Minister Alexey Overchuk said last December that trade between Russia and Iran increased by 14.7% in the first nine months of 2024 to $3.3 bln.

On January 17, President Vladimir Putin of Russia and President Masoud Pezeshkian of Iran signed the Treaty on Comprehensive Strategic Partnership, which is designed to bring the relations between the two countries to a new level, cementing their status as strategic partners. The document covers all areas, including defense, the fight against terrorism, the energy sector, finances, transport, industries, agriculture, culture, science and technology. The signatories pledged not to help aggressors in case of an attack on Russia or Iran, but the document does not imply military assistance in case of an armed attack on one of the parties to the agreement.