Russia-Iran trade turnover surges by 81.7% in 2021
Following Iran and Russia's meeting last year focusing on boosting economic cooperation and enhancing bilateral relations, Russia-Iran mutual trade turnover skyrockets.
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Russia’s exports to Iran surged in 2021 by 2.2 times, rising to $3,068 billion, while imports from Iran to Russia increased by 21.4%, rising to $976.3 million.
Despite the pandemic, the Russian-Iran mutual trade turnover was able to reach an unprecedented $4,035 billion, according to the Russian Federal Customs Service (FCS), increasing by 81.7 percent in 2021.
This came following the meeting of Iranian President Ebrahim Raisi with Russian President Vladimir Putin in Moscow on January 19, which emphasized how the two countries could significantly boost economic cooperation and have comprehensive relations.
“The trade turnover between Russia and Iran amounted in 2021 to $4,035 billion, thus, having increased by 81.7% in annual terms,” the FCS said.
The Customs Service added that Iran’s share in Russia’s overall international trade increased from 0.4% to 0.5%. Russia’s exports to Iran surged in 2021 by 2.2 times, rising to $3,068 billion, while imports from Iran to Russia increased by 21.4%, rising to $976.3 million.
Iran works on boosting economic cooperation with Russia and former Soviet Union republics. On January 26, 2022, Armenian Deputy Prime Minister Mher Grigoryan welcomed the Iranian Ambassador to Armenia, Abbas Badakhshan Zohouri, and showed the will to provide support in cooperation with the Eurasian Economic Union (EEU).
The EEU is an economic union of post-Soviet countries currently including five member states –Belarus, Armenia, Kyrgyzstan, Kazakhstan, and Russia, while Moldova, Cuba, and Uzbekistan have been given observer status.
