Russia strengthening trade ties with Iran amid sanctions

TEHRAN, May 25 (MNA) – Russian Deputy Prime Minister Alexander Novak said that despite the pressure of US sanctions, Russia is developing trade relations with Iran, boosting the economies of both nations

"Russia is interested in creating the North-South international transport corridor. Its successful implementation, we believe, will give a powerful push to the development of trade with the Caspian basin and the Persian Gulf. This is a landmark project that could become key for the development of our trade and economic cooperation," Novak said, according to Interfax.

He said special conditions are now taking shape for the countries to significantly expand cooperation and add momentum to the major projects that are already being implemented in Iran, such as the construction of the Bushehr nuclear power plant and Sirik thermal power plant, and ensure new development.

Earlier on Wednesday, the Spokesman for the Atomic Energy Organization of Iran Behrouz Kamalvandi said that Iran is holding consultations with Russia for developing Phase 2 and 3 of the Bushehr nuclear plant.

The trade turnover between Iran and Russia jumped 81% to almost $4 billion, one of the highest figures in many years, he said. Trade grew by another more than 10% in the first quarter of 2022, and the Iranian president has promised to increase the rate to $ 10 billion a year.

MP/PR

News Code 187205

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