Trade turnover between Russia, Iran up 10% in Q1 2022, says Deputy PM Novak

TASS Russian News Agency | May 25, 2022 at 9:49 AM

TEHRAN, May 25. /TASS/. Trade turnover between Russia and Iran increased by 10% in January-March 2022 year-on-year, Russian Deputy Prime Minister Alexander Novak said during an Iranian-Russian trade forum, adding that the countries strive for further development of the relationship.

"Conditions are still being created for steady development of the Russian-Iranian relations thanks to accommodating steps of the leadership of our countries. Trade turnover between our states soared by 81% last year, reaching the maximum level of the past years of almost $4 bln. This year we also saw an increase in trade turnover for Q1 by over 10%," he said.

Moscow and Tehran have set a course for lifting import restrictions, Novak said, adding that in this respect it is becoming particularly important to establish trade in national currencies.

"Together with Eurasian Economic Union partners around 15% of Russian imports have already been exempted from import duties, which may become one of incentives for the development of trade and economic relations, cooperation, imports from Iran," Russian Deputy PM noted.