Trade with Iran rising despite pressures: Russian official
The trade turnover between Iran and Russia has followed an upward trend in the past two years despite the challenging external conditions, Tass reported, quoting Russian Deputy Foreign Minister Igor Morgulov.
Despite the challenging external conditions, the Russian-Iranian trade turnover is rising. It increased to $2 billion last year," he said.
Mentioning the preferential trade agreement between Iran and the Eurasian Economic Union (EAEU), Morgulov expressed hope that the agreement would facilitate the trade between the two sides and give an extra impetus to the expansion of ties.
According to the official data, trade turnover between Russia and Iran amounted to $1.74 billion in 2018 and $1.589 billion in the period between January-September 2019.
Agriculture products are the backbone of trade turnover between the countries. Trade in the agriculture sector amounted to 1.283 billion in January-September 2019, an increase of 41.6 percent year-on-year.
In late December 2019, Moscow's commercial representative in Tehran, Rustam Zhiganshin had announced that more than 50 percent of Iran and Russia’s total bilateral trade is being conducted through national currencies.
"If in 2018 payments in national currencies comprised 40 percent [of the two countries’ trade], in 2019 this quota has already exceeded 50 percent," Zhiganshin told sputnik.
Russia’s exports to Iran include machinery, steel, wagons, wood, vegetable oil, corn, barley, red meat, and other goods, while its imports from the Islamic Republic are mostly dairy products, vegetables, and fruits.
source: Tehran Times
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
