Saturday, February 4, 2023

‘Value of Iran-Russia trade exceeded $4bn in first 10 months of 2022’

A senior Russian customs official says the value of Iran-Russia trade surpassed $4 billion in the first 10 months of 2022, with the amount exceeding the figures recorded throughout entire 2021.

Deputy Head of the Federal Customs Service of Russia Vladimir Ivin said the volume of Russian exports to Iran witnessed a 27-percent rise, while its imports from the Islamic Republic increased by 10 percent, compared to the same period last year.

Both Russia and Iran have been the targets of tough Western economic sanctions.

The two countries have largely stepped up their trade relations in the face of the bans.

Last month, Tehran and Moscow signed four new cooperation agreements as part of efforts to deepen energy and economic ties.

The two sides are also mulling over a long-term strategic partnership agreement, similar to the one Iran has signed with China.

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