Iran-Russia Trade Up 50%

EghtesadOnline: Trade turnover between Russia and Iran in the first eight months of 2016 was 1.5 times higher than that during the same period of last year, Russian Foreign Minister Sergey Lavrov said on Friday at the talks with his Iranian counterpart Mohammad Javad Zarif.

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“I can happily cite our statistics, which shows that during the 8 months of this year, trade turnover between Russia and the Islamic Republic of Iran has risen by 1.5 times,” Russia’s state news agency Sputnik quoted Lavrov as saying. He did not specify the amount of bilateral trade though. Zarif and Lavrov are currently holding talks in Moscow, mostly focusing on the Syrian crisis, reports Financial Tribune. In August, Russian Ambassador to Iran Levan Dzhagaryan said that in the five months of 2016, trade grew over 70% in year-on year terms, amounting to over $855 million, adding that boosting trade with Iran was a priority for Russia.