Business And Markets
0

50% of Russo-Iran Trade in National Currencies

50% of Russo-Iran Trade in National Currencies
50% of Russo-Iran Trade in National Currencies

Commercial transactions in national currencies between Russia and Iran exceeded 50% in 2019, Moscow's commercial representative in Tehran, Rustam Zhiganshin, said.
"While in 2018 payments in national currencies amounted to 40%, this figure has already exceeded 50% in 2019," Zhiganshin told Sputnik.
The official stressed that use of the ruble and rial is crucial for maintaining bilateral trade.
Zhiganshin underscored the considerable volume of two-way trade, saying that bilateral trade increased by 21% between January and October to reach $1.67 billion dollars.
Russia exports electrical machinery, steel, rail cars, wood, vegetable oil, corn, barley, lamb and other goods, and imports cheese, vegetables and fruits.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com