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Russia’s economic relations with Iran gaining momentum, official says

Economy Materials 16 February 2026 12:10 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, February 16. Economic and trade relations between Russia and Iran are developing on an upward trajectory, the secretary of the Russian-Iranian Joint Economic Commission (RIEC), Khaltimat Budunova, said, Trend reports.

She made the remark at the 19th meeting of the RIEC, held on February 16 in Tehran.

According to her, the latest statistics show that trade turnover between Iran and Russia has increased to $4.7 billion.

Budunova added that the signing of a free trade agreement between Iran and the Eurasian Economic Union plays an important role in trade cooperation. This agreement has made it possible to exchange more than 2,000 types of goods and provide services between the two sides.

Furthermore, she noted that 17 working groups are working at the meeting. Today and tomorrow, experts from both countries will take a number of steps. After considering various issues, they will be agreed upon, and the final text will be sent to the secretariat.

The 19th two-day meeting of the Iran-Russia Joint Economic Commission began today in Tehran.

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