Russia and Iran Increase Bilateral Trade by 48% in Q1 2024

14 June

In the first quarter of 2024, Russia and Iran increased their bilateral trade turnover by 48% year-on-year. Russian exports to Iran grew by 77%, while imports from Iran rose by 13%, according to the Russian government's press service following a meeting between Russian Deputy Prime Minister Alexander Novak and Iranian Oil Minister Javad Oji.


During their discussions, the two sides reviewed bilateral cooperation across all tracks of the intergovernmental commission, including economic, energy, transport, and tourism sectors.


"I would like to highlight the launch of regular direct flights on the Grozny-Tehran route starting June 10, 2024, operated by Mahan Air. I am confident this will boost mutual tourist flows between Iran and the North Caucasus regions," noted the Deputy Prime Minister.


Novak introduced the new chair of the Russian section of the commission for trade and economic cooperation with Iran, Russian Energy Minister Sergey Tsivilev.


"The Deputy Prime Minister expressed his willingness to continue his personal involvement and to assist in resolving all issues related to the development of ties between Russia and Iran," the statement added.



GSV "Russia - Islamic World"

Photo: Federation Council

Based on TASS materials