Iran-Russia Trade Turnover Up by 71%: Russian Envoy

Trade turnover between Tehran and Moscow has grown 70.9 percent in year-on-year terms following the removal of anti-Tehran sanctions, Russia’s ambassador to Iran, Levan Dzhagaryan, said, AVA Diplomatic reports.

There has been a rise in interest from Russian firms in doing business in Iran after a lasting nuclear deal was reached between Tehran and world powers last year in July, Dzhagaryan told Ria Novosti on Friday.

“Russian companies are resuming existing ties with Iran, while new firms are ready to get access to the market. Of course, the further expansion of trade is one of the main priorities of the bilateral cooperation with Iran,” he said.

He noted that in the first five months of 2016 the trade turnover between Iran and Russia increased by 70.9 percent compared to the same period in 2015 and amounted to $856 million.

“In particular, Russian exports to Iran jumped by 91.5 percent and amounted to $697 million. Russian imports from Iran increased by 16 percent to $158 million. The boost in trade was achieved by supplies of machinery, ground vehicles and weapons,” the ambassador said.

Dzhagaryan is also expecting a record number of Iranian tourists to visit Russia this year.

“Last year, the Russian diplomatic mission in Iran issued about 35,000 visas, mostly travel, to Iranian citizens. In addition, for the first time Iran entered the top 20 countries by number of tourists visiting Russia. It’s safe to say that last year’s record number of Iranian tourists visiting Russia will be broken,” he said.

He further called on Russian tourists to travel to Iran and visit cities of Isfahan, Shiraz and Yazd that have preserved monuments of ancient Persian civilization in good condition.

Iran and Russia have ramped up efforts in recent months to boost bilateral trade after implementation of the Joint Comprehensive Plan of Action (JCPOA), the July 2015 nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

The deal took effect on January 16, terminating all nuclear-related sanctions on Iran.