Jan 29, 2022, 10:15 AM
Journalist ID: 1842
News Code: 84630104
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Trade ties with Tehran cornerstone of Moscow's foreign policy: Analyst

Moscow, IRNA - Russia's trade exchanges with Iran is the cornerstone of Russian foreign policy in West Asia, a Russian researcher believes.

Vladimir Sazhin, Senior Fellow at the Institute of Oriental Studies of the Russian Academy of Sciences, made the remarks in an article published in Life International magazine, pointing to the significance of Iranian President Ebrahim Raisi's visit to Russia.


The trip will lead to preparing fundamental efforts to develop economic ties, he mentioned, noting that the tour will also open outlooks for cooperation in different arenas.


Pointing to the fact that trade ties between Russia and Iran are not proportionate to the level of their economic capacities, the Russian analyst argued that the financial transactions between the two nations fluctuated between $1.7b to $2.2b, adding that the volume reached $3.3b in 2021.


However, consumer demands are still very limited, which affect goods exchanges between trade sections of both countries, he wrote.


The Iranian president correctly mentioned in the Kremlin that the current mutual trade is not satisfactory, Sazhin noted, adding that Tehran and Moscow have reached a consensus to increase trade exchanges to 10 billion dollars.


Bilateral relationship, baking and financial cooperation, trade and economic ties, as well as oil and energy collaborationS were among the most important issues discussed on President Raisi's visit to Moscow, the expert mentioned.


According to the Russian researcher, the tour was very important for Russia, because Moscow is well aware of Iran's strategic significance in the region.


Iran is of strategic and military importance in terms of possessing 11.9 percent of global oil reservoir, which turns it into one of the biggest crude oil producers in the world following Venezuela and Saudi Arabia, he noted, adding that Iran stands second after Russia concerning gas proven reserves.


Given the fact that Russia and the US are experiencing mounting tensions, expansion of ties with the biggest power in West Asia (Iran) is of great importance for Moscow, he argued.


Iran's President Raisi, heading a high-ranking delegation, paid an official visit to Moscow from January 19 to 20.

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