Russia becomes largest foreign investor in Iran’s economy in 2024

Russia ranked first in terms of foreign investment in Iran’s economy in 2024, according to Kazem Jalali, Iran’s ambassador to Moscow.

Jalali stated that Russia plans to invest a total of $8 billion in gas projects in Iran, with $5 billion already under firm commitments and agreements on the remaining projects expected soon.

In the 2022–2023 fiscal year, Russia was also Iran’s largest foreign investor, contributing $2.76 billion. Total foreign direct investment in Iran that fiscal year stood at $4.2 billion.