Russia reports no decline in trade with Iran despite regional developments
Quick Look
Russian Deputy Prime Minister Alexey Overchuk stated at the Eastern Economic Forum in Vladivostok that trade volumes between Russia and Iran have not declined despite regional developments, attributing stability to the Eurasian Economic Union-Iran free trade agreement and ongoing North-South corridor expansion.
AI-generated summary
Why It Matters
The Eastern Economic Forum is an annual international forum held in Vladivostok focusing on economic cooperation in the Asia-Pacific region, organized by the Roscongress Foundation with Russian government support.
VLADIVOSTOK, September 3. /TASS/. Russia has recorded no decline in trade with Iran amid developments in and around the Islamic Republic thanks to the free trade agreement between the Eurasian Economic Union (EAEU) and Iran, Russian Deputy Prime Minister Alexey Overchuk said at the Eastern Economic Forum (EEF).
"One of our major achievements was the agreement with Iran coming into force last year. We are also extending the North-South [corridor] there. Despite what is happening in and around Iran today, this agreement allows us to maintain trade volumes. In other words, against the backdrop of everything that is happening, we are seeing no decline in trade volumes," he said.
The Eastern Economic Forum is being held on September 1-4 in Vladivostok on the campus of Far Eastern Federal University. The forum is organized by the Roscongress Foundation with the support of the Russian government. TASS is the general information partner.
What to Watch
AI outlook — possibilities, not facts
Russia and Iran will continue to maintain stable trade volumes through the remainder of 2024
Likely · Within months
Open Questions
- What specific mechanisms in the EAEU-Iran free trade agreement are preventing trade decline?
- How are North-South corridor extensions progressing?
- What are the exact nature and scope of developments in and around Iran referenced by Overchuk?
