Iran, Russia Could Break Trade Volume Record With New Partnership Agreement, Ambassador Says

09:01, 17 January 2025

TEHRAN (Sputnik) - In March 2001, Tehran and Moscow signed the Treaty of the Foundation of Mutual Relations and the Principles of Cooperation – a long-term cooperation agreement, initially for ten years, which was subsequently extended twice by five-year terms.

Sputnik

Moscow and Tehran could break the record for bilateral trade this year thanks to a new partnership agreement, Iranian Ambassador to Russia Kazem Jalali told Sputnik.

"I think this [achieving a new record in trade] will happen for several reasons. We are currently working seriously with each other in a number of areas in the economic sphere. One of them is that we are currently signing a strategic [partnership] agreement, and this agreement can facilitate and accelerate part [of the processes in] our economic relations, the second is our cooperation in BRICS, the third is our cooperation in the SCO [Shanghai Cooperation Organization], but the most important is the free trade agreement that we signed with the countries of the Eurasian [Economic] Union and [...] the Russian economy is the largest economy in the Eurasian Union [...] Now there is potential that from 2025 we will develop our economic relations in these several areas that I have mentioned," the ambassador said.

Earlier, Russia and Iran agreed on a comprehensive strategic partnership agreement. According to Jalali, the deal, which also includes a clause on respect for territorial integrity, consists of 47 articles and an introduction and will be implemented to ensure balanced cooperation between the two countries. The procedure for Iran's ratification of the document envisions the government submitting it to parliament for approval.

Iran-Russia Comprehensive Cooperation Agreement Contains 47 Articles, Ambassador States

13 January, 08:23

The Kremlin has said talks between Russian and Iranian presidents Vladimir Putin and Masoud Pezeshkian will be held on January 17. The leaders plan to discuss the prospects for expanding bilateral cooperation and current regional and international issues. After the talks, the presidents will sign a comprehensive strategic partnership deal between Russia and Iran and will also make statements for the press. The new agreement is to replace the current bilateral document on the foundations of relations and principles of cooperation, signed in Moscow back in 2001.