Economy, Domestic Economy

Russia Trade Potential

Russia Trade PotentialRussia Trade Potential

Bilateral trade between Iran and Russia will significantly increase with the lifting of sanctions imposed by the West, Russia’s ambassador to Tehran, Levan Jagaria, told Moscow-based Rossia Segodnya on Thursday, IRNA reported. “Both countries are determined to continue cooperation on various fields including energy, industry and transportation.” He also said that the western sanctions on Iran’s oil industry and banking system have disrupted transaction between Tehran and Moscow, expressing hope that with the lifting of the sanctions the trade turnover between the two sides will reach at least $4 billion per year. The trade turnover between the two countries was halved in recent years as a result of the anti-Iran sanctions.