Iranian FM: Economic cooperation with Russia continues to grow

Economic cooperation between Tehran and Moscow continues to develop steadily in spite of Western sanctions, with all bilateral agreements being implemented, Iranian Foreign Minister Abbas Araghchi said during a joint press conference with his Russian counterpart, Sergei Lavrov.

Speaking after their meeting in Moscow, Araghchi emphasised that both countries are committed to advancing their economic ties regardless of external pressure, Caliber.Az reports via Russian media.

“In the sphere of economic cooperation, Iran and Russia are building engagement despite the presence of sanctions. Our economic cooperation continues and is developing, and agreements are being fulfilled in practice,” he said.

Lavrov echoed Araghchi’s remarks, stressing that despite the harsh sanctions imposed by the West on both Russia and Iran—sanctions he said violate the UN Charter, World Trade Organisation rules, and other international agreements—trade between the two countries is growing. “Last year, trade turnover increased by more than 13%, nearly matching the record level of 2022 at around $5 billion, and this upward trend continues,” the Russian minister noted.

The two top diplomats also discussed a wide range of bilateral and international issues, with particular focus on economic cooperation. Lavrov highlighted that the talks were built on a meeting held the previous day between Iranian Foreign Minister Araghchi and Russian President Vladimir Putin at the Kremlin.

A key topic of the discussions was the upcoming 18th meeting of the Russian-Iranian Intergovernmental Commission on Trade and Economic Cooperation, scheduled for April 23–25 in Moscow. Lavrov said the session would focus on key infrastructure, logistics, and investment projects.

Among the main projects under discussion is the construction of the Bushehr nuclear power plant and the Resht–Astara railway, which is being financed by a Russian loan. The railway is a critical component of the International North-South Transport Corridor, a strategic initiative designed to boost regional connectivity and trade.

“These projects will have enormous significance for the expansion of trade, economic, and other links in our common region,” Lavrov said, adding that both sides agreed to accelerate the implementation of existing agreements to ensure the effective realisation of these initiatives.

Lavrov also confirmed Russia’s support for boosting business ties with Iran. He said this effort would be strengthened by the upcoming entry into force of a free trade agreement between Iran and the Eurasian Economic Union on May 15.

“We are confident that this agreement will help expand trade volumes and create simpler procedures for mutual trade,” Lavrov said.

Both ministers reaffirmed their commitment to maintaining and developing cooperation across various sectors, underlining the resilience of Russian-Iranian ties in the face of external constraints.