Iran’s exports to Russia doubled in 2020 to $800mln: Envoy
Iran more than doubled its exports to Russia in value terms last year amid efforts in the country to boost trade with neighbors to compensate for losses suffered in reduced oil sales because of US sanctions.
Iran’s ambassador to Russia Kazem Jalali said on Thursday that exports from Iran to Russia had reached to $800 million in dollar terms last year, an increase of 105 percent against 2019.
Jalali said increased exports to Russia show that Tehran and Moscow are expanding their strategic political and security cooperation to include more economic exchanges in future.
The envoy descried booming trade with Russia as a major achievement for Iran in its attempts to neutralize sanctions imposed by the United States.
“Iran cannot be limited and isolated because of its geopolitics despite what the Westerners are seeking to impose a blockade on the country,” said Jalali during a meeting with authorities at Iran’s ministry of trade (MIMT).
Iran’s exports to Russia jumped last year after the country signed a major trade agreement with the Russia-led bloc of regional countries known as the EAEU.
Russia has also increased its supply of staples like wheat to Iran as part of the preferential trade agreement.
That caused the volume of trade between two countries to increase by 43 percent last year, according to figures by the Iranian government.
Jalali said that Iran will be in need of more supplies of grain and animal feed from Russia to respond to a growing demand inside the country.
However, he said Iran is expected to benefit from higher exports of farming products, including fresh fruits, to Russia in the upcoming years.
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