Russian Companies Make investments $2.7 Billion In Iran’s Oil Trade

Russian companies has invested 2.7 bln in Iran’s oil business, the chairman of Iran-Russia Chamber of Commerce stated. 

Hadi Tizhoush Taban made the touch upon Friday and emphasised that use of nationwide currencies of the 2 international locations of Iran and Russia in rials and ruble has so far elevated by 60 p.c utilizing the elimination of US greenback in bilateral transactions.

Concerning the event of commerce and financial actions between Iran and Russia, he stated, “Following the go to of Iranian President Ebrahim Raisi to the Russian Federation, the 2 international locations agreed to succeed in worth of bilateral commerce exchanges as much as $10 billion.”

For this objective, Governor of Central Financial institution of Iran (CBI) Mohammadreza Farzin and chairman of Iranian Parliament’s Financial Fee traveled to Russia with the goal of increasing financial, financial and banking ties between the 2 international locations, Tizhoush Taban advised IRNA.

Elsewhere in his remarks, the chairman pointed to Iran-Russia Enterprise Discussion board and added, “On this line, the Discussion board was held with the participation of 120-member financial delegation from Russia and financial activists of Iran to broaden bilateral ties in financial sphere.”

The event of commerce ties between the 2 international locations requires provision of amenities in no less than three land, sea, rail and air transportation fields, he harassed.

On this regard, Iran and Russia launched a settlement system utilizing their very own currencies, he stated, including that Iran and Russia have taken large strides to sideline US greenback from bilateral commerce exchanges.