Trade turnover between Russia and Iran during January-October surpassed trade volumes during the whole of 2021 and totaled $4 billion, Izvestia wrote with reference to figures provided by the Federal Customs Service of Russia.
Russian exports to Iran increased by 27%, while imports hiked by 10%, the deputy head of FCS, Vladimir Ivin, told the publication.
President of the Russian Chamber of Commerce and Industry Sergey Katyrin told Izvestia that mutual trade increased mainly due to Western sanctions against Russia and the related interruptions in traditional ties.
“Iran is of special interest: First, it is a logistic bridge in trade with the Middle East, South and Southeastern Asia, and second, the state has a unique experience of surviving amid sanctions for many years,” the official explained.
Iran’s Ambassador to Russia Kazem Jalali said Russia and Iran intend to sign a long-term comprehensive cooperation agreement in the near future.
The ambassador did not specify the date when this agreement would be signed, RIA Novosti reported.
An agreement has now been signed between the two countries on the foundations of relations and principles of cooperation. It was signed almost 20 years ago. Initially, the contract was signed for 10 years. It is renewed automatically every five years, unless either party were to oppose its extension.
In the first half of this year, trade turnover between Russia and Iran increased almost twice.
Iranian Oil Minister Javad Owji had earlier said the two countries are now experiencing a "golden period" in the development of bilateral relations, stressing that the authorities of the two countries are determined to strengthen cooperation in all sectors.