News ID: 241123
Published: 0303 GMT April 08, 2019

Russia-Iran trade up 14.2%

Russia-Iran trade up 14.2%

Trade between Russia and Iran underwent a 14.2-percent year-on-year increase to $360.7 million in January and February 2019, the Russian Federal Customs Service's data showed on Monday.

The data showed that exports from Russia to Iran in the two-month period totaled $262.7 million, having increased by 20.6 percent, while imports to Russia from Iran stood at $98 million, which is a 0.2 percent increase, reported Sputnik.

Iran's share in the Russian foreign trade increased from 0.3 percent in January-February 2018 to 0.4 percent in the same period this year.

Governor of the Central Bank of Iran said Tehran, Moscow and Ankara agreed in September 2018 on a number of economic measures like removing the US dollar from their mutual transactions as part of efforts to expand their trade relations amid Washington’s pressure. 

The agreement was made on the sidelines of a key trilateral summit on Syria held in Tehran and attended by Iranian, Russian and Turkish presidents, Abdolreza Hemmati said.

“During the summit, the Iranian oil minister and I held beneficial and constructive meetings with the economic officials of Russia and Turkey with the three presidents in attendance,” he noted.

According to Hemmati, the main topics discussed during the meetings included oil and gas prices, basic commodities sales, expansion of banking ties, conducting financial transactions by the countries’ national currencies instead of the US dollar and strengthening of bilateral economic relations.


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