Russia-Iran trade grows 35.4%

In January-August 2022, the trade turnover between Russia and Iran increased by 35.4% and amounted to $3.3 billion, Russian Deputy Prime Minister Alexander Novak said at a meeting of the Russian-Iranian commission on trade and economic cooperation.

Novak expressed confidence that trade between the two countries will soon reach $4 billion as it grows at a "record pace."

Iranian Oil Minister Javad Owji noted that Moscow and Tehran are currently experiencing a "golden period" of cooperation.

"Iran and Russia are developing every day, and we are in the golden period of the development of the two peoples and the greatness of Iran and the Russian Federation. The determination of our two governments is mutually linked, the determination to use all the potential opportunities to achieve a balanced relationship," Owji said.

At the end of August, the Russian Foreign Ministry reported that Russian-Iranian trade in the first half of 2022 increased by 42.5%, reaching $2.7 billion.

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