TPOI, Russia Business Co. ink MoU to enhance trade coop.

50% of Russo-Iran trade in national currencies

Financial Tribune – Commercial transactions in national currencies between Russia and Iran exceeded 50% in 2019, Moscow’s commercial representative in Tehran, Rustam Zhiganshin, said.

“While in 2018 payments in national currencies amounted to 40%, this figure has already exceeded 50% in 2019,” Zhiganshin told Sputnik.

The official stressed that use of the ruble and rial is crucial for maintaining bilateral trade.

Zhiganshin underscored the considerable volume of two-way trade, saying that bilateral trade increased by 21% between January and October to reach $1.67 billion dollars.

Russia exports electrical machinery, steel, rail cars, wood, vegetable oil, corn, barley, lamb and other goods, and imports cheese, vegetables and fruits.