A senior member of Iran Chamber of Commerce Industries, Mines and Agriculture (ICCIMA), said on Sunday that Western sanctions on Russia following the country's war on Ukraine will pave the way for Iran’s exports to Russia.
The current situation of Russia would provide Iran with access to a proper part of the country’s market, Mostafa Mousavi, the vice-chairman of ICCIMA Commission for Exports of Non-Oil Exports, was quoted as saying by IRNA news agency.
“With closure of the path to Europe and Western sanctions on Russia, the country’s market will need to seek replacements for meeting its needs,” he said.
Noting that Russia will need to import its required commodities from the East bloc, he added that China is one of the countries that has the potential to replace Europe.
He however noted that, due to neighborhood with Russia, Iran has more advantages for enhancement of trade with Moscow.
Forex restrictions will cause many problems for Russia in the long-term so that banking transactions have to be made in the traditional way, Mousavi said, adding, “that’s why we need appropriate planning for enhancement of trade with this country.”
The problems facing Russia would make the country to ease trade conditions, he noted, asking the Ministry of Industry, Mine, and Trade to form a working group to help private sector businesspeople in trade with Russia.