Iran, Russia Trade Increases by 80% in 2016

In 2016, trade turnover between Iran and Moscow increased by 80% and amounted to over $2 billion, the head of the second Asian department of Russia’s Foreign Ministry said.

The two states are actively cooperating in energy, defense and agriculture fields, among others, Sputnik reported. “Bilateral trade between Iran and Russia may reach $10 billion in three years,” Iranian Ambassador to Russia Mehdi Sanaei said on Tuesday at the round table organized by Rossiya Segodnya International Information Agency. “The growth of Iran’s trade relations with Russia was the biggest last year in comparison with any other country … It seems to me that this trend will continue and we will reach a considerable trade of $10 billion in the next two or three years.” On Monday, Iranian Communications and Information Technology Minister Mahmoud Vaezi said the roadmap for the development of cooperation between Iran and Russia in the medium- and long-term perspective may be signed during the upcoming visit of Iranian President Hassan Rouhani to Russia in late March.