Iran plans to increase trade turnover with Russia to $10 billion

Tehran expects to increase trade turnover between Iran and Russia to $10 billion by 2027, Mehdi Azadvari, President of the Eurasian International Chamber of Commerce, said at the Caucasus Investment Forum.

"Today, the Islamic Republic of Iran has a plan to increase the total volume to $10 billion per year with the Russian Federation. This is due to the fact that a comprehensive agreement was recently concluded between the two countries",

Mehdi Azadvari said.

According to Azadvari, mutual trade currently brings the countries about $4 billion. The parties are working to simplify banking operations and develop logistics routes.

Tehran plans to achieve this goal within two years, although it is possible that it will be completed ahead of schedule.