Iran to boost turnover with Russia to $10 billion

In the near future trade turnover between Iran and Russia should increase from current $3.8 billion to $10 billion, Iran News reports.

This was announced by the head of the International Department of the Interior Ministry of Iran, Azimlu, during the first session of the Iranian-Russian working group on inter-regional cooperation being held in Tabriz.

According to Azimlu, the working group discussed fulfillment of signed agreements, encouragement of development of trade cooperation between the regions by establishing of appropriate infrastructure and encouragement of extension of cooperation in the banking, insurance and customs spheres.

The head of the Department of International Relations and Development of Cross-Border Cooperation of Russia, Alexander Tsybulski, stated that today about 40 Russian regions have intensive trading and economic relations with Iran.

According to Tsybulski, last year trade turnover between Iran and Russia grew by 3%, and this increase took place in the context of anti-Iranian sanctions by the West.