Trade turnover between Russia, Iran surges 70% in 2016

TASS– Trade turnover between Russia and Iran surged 70% year-on-year to $2.2 bln in 2016, Russian Energy Minister Alexander Novak said on Monday at the meeting with his Iranian counterpart Hamid Chitchian.

“The trade turnover was $2.2 bln in 2016; it grew by nearly $1 bln, by 70%,” Novak said.

Despite the positive dynamics, the current state of bilateral trade and economic relations is insufficient and parties will undertake all the possible measures to further develop cooperation, he added.