Iran-Russia trade surges 35% following free trade agreement

Trade between Russia and Iran has risen by 35 per cent between May and July 2025 following the provisional implementation of a free trade agreement with the Eurasian Economic Union (EAEU), announced Deputy Prime Minister of the Russian Federation Aleksey Overchuk, during a meeting with Iran’s Minister of Industry, Mines, and Trade, Seyed Mohammad Atabak.

Russian government data also shows that trade volumes between the two countries increased by nearly 12 per cent in the first seven months of this year compared with 2024. Both sides agreed that the deepening of economic integration with the EAEU would offer Iran greater access to regional markets. This was reported by IRNA, a partner of TV BRICS.

Talks in Moscow reviewed progress in cooperation across sectors including energy, logistics, agriculture, industry, and tourism. Officials on both sides stressed their readiness to continue constructive dialogue and build on shared projects. 

Atabak noted that the signing of a comprehensive strategic partnership agreement, alongside the free trade deal, had laid the groundwork for “new opportunities” in bilateral ties.

The two sides are due to hold the first joint committee meeting on the implementation of the free trade agreement on Wednesday in Moscow. Russian officials expressed optimism about further growth in bilateral trade and indicated a strong interest in diversifying economic exchanges with Tehran.

Photo: IRNA