Financial Tribune - Iran’s exports to the bloc stood at $400 million, while EEU's five members exported $585 million worth of goods to Iran from March 21 to Aug. 22

Iran traded $985 million worth of non-oil commodities with the five member states of Eurasian Economic Union, namely Russia, Kazakhstan, Armenia, Kyrgyzstan and Belarus, during the first five months of the current Iranian year (March 21-Aug. 22).

Iran’s exports to the bloc stood at $400 million, while EEU's five members exported more than $585 million worth of goods to Iran during the five-month period under review, Fars News Agency reported.

Eurasian Economic Union is an international economic union comprising countries located in central and northern Asia and Eastern Europe. The founding member states, Belarus, Kazakhstan and Russia, established the union by treaty that entered into force on Jan. 1, 2015.

The bloc was created in part in response to the economic and political influence of the European Union and other western countries. Key objectives of EEU include increasing cooperation and economic competitiveness for member states, and the promotion of stable development to raise their standards of living.