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Iran Russia

Iran, Russia use national currencies to settle payments

Iranian and Russian exporters can do transactions in national currencies after the two countries merged their financial message transfer systems, allowing banks to make direct payments without using the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system.

Financial Markets

Iran to launch joint investment funds with Russia, Oman, Saudi Arabia

A member of the Board of Executive Directors of the National Development Fund of Iran (NDFI) said the country has plans to set up joint investment funds with the Russian Federation, Oman and Saudi Arabia.

Iran Economy

Iran’s eight-month trade with Russia exceeds $1.7 billion

Iran and Russia have exchanged some 3.74 million tons of commodities worth $1.75 billion in the first Iranian calendar months to November 22, according to the head of the Islamic Republic of Iran Customs Administration (IRICA).

Trade

Iran, Russia to invest $38bn in developing INSTC corridor

Iran and Russia have plans to invest as much as $38 billion in the development of the International North-South Transport Corridor (INSTC), according to an official with the knowledge of the matter.

Transportation

Iran, Russia to start free trade by early 2024

A member of Iran-Russia Joint Chamber of Commerce has said that the two countries will begin free trade by early 2024.

Trade

Chambers of commerce of Tehran and Moscow ink cooperation agreement

Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA) and Moscow Chamber of Commerce have signed a cooperation document.

Local Chambers

Iran, Russia discuss transportation cooperation

Senior officials from Iran and Russia have explored ways for more enhanced cooperation between the two countries on infrastructure and transportation areas.

Transportation

“Iran, Russia carrying out 90% of bilateral trade in national currencies”

The share of national currencies in commercial transactions between Russia and Iran has increased to 90 percent, according to the head of Russia’s Federation Council Committee on the Budget and Financial Markets.

Financial Markets

Russian cargo in Iranian port for transshipment to Saudi Arabia

A Russian cargo train has reportedly arrived in the port city of Bandar Abbas in southern Iran where the cargo is to be transshipped aboard ships to continue its journey to Saudi Arabia.

Transportation

Iran, Russia eyeing more increased railway cooperation

Transport companies from Russia’s Novosibirsk region have attended the 10th International Exhibition of Rail Transportation & Related Industries (Iran Rail Expo) in Tehran.

Transportation

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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