Russia becomes largest foreign investor in Iran in 2024, ambassador says

Russia has taken the first place by the volume of foreign investment in Iran's economy in 2024, Iran’s Ambassador to Moscow Kazem Jalali said. 

“In 2024, Russia was the largest foreign investor in Iran,” Jalali said in a statement, Caliber.Az reports per TASS.

He noted that Russian investments are primarily concentrated in Iran’s gas sector, with long-term investment plans totaling $8 billion. Of this amount, $5 billion is already tied to specific commitments, while agreements on the remaining funds are expected to be finalised soon, he added.

Ambassador Jalali also said Tehran is preparing for a visit by Russian President Vladimir Putin, signaling deepening ties between the two countries.

“Relations between Russia and Iran have reached the level of a strategic partnership,” he said, highlighting the increased frequency of high-level diplomatic visits.

This marks the second consecutive year Russia has topped the list of foreign investors in Iran. In the 2022–2023 fiscal year, Russia invested $2.76 billion, accounting for a significant portion of Iran’s total foreign direct investment (FDI) of $4.2 billion during that period.

By Sabina Mammadli