Iran says agricultural trade with Russia could hit $700 mln by 2026

By Al Mayadeen English
Source: Agencies
31 Aug 2025 23:26

Iran projects agricultural trade with Russia to reach $600–700 million by March 2026 under their Comprehensive Strategic Partnership.

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Iran's Minister of Agriculture Gholamreza Nouri Qezeljeh (IRNA)

Iran's agriculture minister announced on Sunday that agricultural trade with Russia could grow to between $600-700 million by the end of the Iranian calendar year in March 2026, with the potential to hit $1 billion if planned projects move forward.

Minister Gholamreza Nouri Ghezeljeh tied the surge to the Comprehensive Strategic Partnership Treaty signed by presidents Masoud Pezeshkian and Vladimir Putin in January and ratified into Russian law in April.

"After the visit of Mr. Pezeshkian to Moscow and the good meeting he had with Mr. Putin... We immediately began holding meetings with the Minister of Agriculture, Olga Lut, and a number of Russian banks within the framework of the partnership agreement... Thanks to the signed agreement and the planning we have carried out, I believe that by the end of the year [that ends on March 20, 2026 according to the Iranian calendar] we will make transactions in the national currencies of the two countries in the amount equivalent to almost $600-700 million," he said.

Expanding strategic partnership

Beyond farm trade, Tehran and Moscow are deepening ties across multiple sectors. The treaty lays out cooperation in energy, finance, and transport, including projects linked to the North-South Transport Corridor and the Rasht-Astara railway, intended to connect Russia to India through Iran. The two countries are also advancing collaboration in oil, gas, and nuclear energy, while pushing to reduce reliance on Western banking systems by expanding payments in their national currencies.

On the trade front, the free trade agreement between Iran and the Russia-led Eurasian Economic Union (EEU) took effect in May 2025, cutting tariffs and potentially boosting overall bilateral trade to $6 billion. This complements planned agricultural cooperation in animal genetics, veterinary standards, and technical training.

Nouri Ghezeljeh stressed that these initiatives demonstrate the depth of the partnership. With new joint ventures underway, he said the total value of exchanges could rise further, possibly reaching the equivalent of one billion dollars in national currency transactions.