“Iran missed an opportunity to attract huge Russian investments”

Roshanali Yekta told Entekhab news outlet when the Ukraine war broke out and Russia was sanctioned by the West including European countries, Russian businesspeople travelled to other parts of the world like Iran’s neighbors and invested heavily there.

Yekta also said Iran failed in attracting Russian investments due to an absence of the necessary groundwork.

He added that Iran needs to work to improve its economic diplomacy and that much work remains to be done to attract considerable investments by foreigners.

Meanwhile, the vice chairman of the Presiding Board of the Iran-Russia Joint Chamber of Commerce says Iran lost important suppliers from Russia in the wake of the Ukraine war.

Kambiz Mirkarimi however noted that Russians growingly need Iran’s transit routes for their cost-effectiveness.

Mirkarimi said the reason why the exports and imports between Iran and Russia have increased considerably is that Russia is counting on Iran growingly.

He also said necessary infrastructure is ready for a jump in economic ties and there is only the issue of lack of familiarity between the two sides.

Mirkarimi said one way to boost familiarity is to participate in mutual international exhibitions.