Chairman of Russian-Iranian Business Council Vladimir Obydenov and President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei meet in Tehran, Iran June 25, 2022.
Given the Western sanctions on Russia, the country is reconsidering its trade routes for an easier access to the Indian and Pakistani markets through the Iranian soil.
Iran’s ambassador to Russia Kazem Jalali says Tehran regards its ties with Moscow as “a priority” under President Ebrahim Raeisi’s new policy of revitalizing relations with neighboring states.
Islamic Republic of Iran Shipping Lines (IRISL) has reportedly began its first pilot transfer of goods from Russia to India through the International North-South Transit Corridor (INSTC).
Iran and Russia signed two memorandums of understanding (MoUs) preparing a draft for an agreement to broaden cooperation between the customs of the two countries.
Iran’s Minister of Petroleum Javad Owji said on Tuesday that the volume of annual trade between Iran and Russia will hit $40 billion within the next one year and a half.
Iran and Russia may introduce major barter arrangements to facilitate trade between the two countries, including a plan that could allow Iran to import steel from Russia in return for exports of car parts and gas turbines to the country.
Iranian Petroleum Minister Javad Owji said that Iran wants to bring its annual trade ties with Russia to $40 billion.
Iran and Russia have signed three major memoranda of understanding (MoU) to expand energy and banking ties, says Iran’s Oil Minister Javad Owji.
Russians will soon start “executive operations” on developing two oilfields in Iran, Managing Director of the National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr said.