Business And Markets

Russian Delegation to Visit Iran

Russian Delegation  to Visit Iran
Russian Delegation  to Visit Iran

A high-ranking commercial delegation from Russia, which includes a group of automakers, will arrive in Tehran on Tuesday to negotiate with Iranian counterparts.

The delegation is scheduled to visit Tehran Chamber of Commerce, Industry and Mine and meet with merchants to see how to cooperate with one another in such sectors as oil, gas, petrochemical, polyethylene pipes, autos, transportation, railways, agricultural machineries, agricultural products, livestock and poultry, food processing, foundries, construction and banking, MNA reported Monday. 

Assadollah Asgaroladi, president of Iran-Russia joint chamber of commerce told the news agency that the chamber had earlier negotiated with Russians over exporting fruits, nuts, and food from Iran.

Russia has come under economic sanctions by the United States and European Union in recent months, as the dispute between Moscow and the West over the Ukraine crisis has been intensifying. 

“Though barriers still remain for money transfer from Iran, Tehran and Moscow can find a solution for the issue,” Asgaroladi said, referring to the sanctions imposed by the West since 2012 against Iran’s financial system. 

In February 2012, the US froze all assets of the Central Bank of Iran and other Iranian financial institutions, as well as that of the Iranian government within the United States. Tehran hopes the ongoing nuclear negotiations with six world powers would ease sanctions, including those on its banking system.  

On August 6, Iran’s Oil Minister Bijan Namdar Zangeneh and Russian Energy Minister Alexander Novak agreed to establish a joint bank to ease money transfers between the two nations.