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Iran hosts Russian businesses for broader trade ties

Yusef Jalali
Press TV, Tehran 

When there's mutual trust, a deal is a deal; it's this easy to arrive at an agreement when the two sides of the bargain are from Russia and Iran. These B2B meetings come as part of an economic forum held in Tehran between Iranian businesses and over one hundred companies from Russia.

Tehran and Moscow’s interests coincide on many fronts. Both are faced with US sanctions, and both are signatories to the 2015 deal, which has faced troubles following the US withdrawal from the pact in 2018 and the reinstatement of sanctions on Iran. While the bans have adversely affected the Russo-Iranian trade, businessmen here believe there’s a strong will from both Tehran and Moscow to overcome those restrictions. The American measures have complicated the Russian-Iranian commercial ties when it comes to money transfer and banking transactions. While alternatives, such as the use of national currencies, have already paid off, legal experts attending this forum say they have a better way out; cryptocurrency.

Visits between Iranian and Russian officials have in recent months increased following the west tightening its economic measures against both countries. Tehran and Moscow are now eyeing a twenty-year strategic partnership treaty that would lay out the roadmap for future expansion of ties at all levels, from politics to economy and security. This year, Tehran and Moscow traded some four billion dollars’ worth of commodities, roughly ninety percent up compared to last year's trade volume. Given the growing relationship between the two sides, the Iran-Russia Chamber of Commerce predicts that this figure will hit ten billion by 2024.

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