Russian Minister for North Caucasus Affairs said Russian-Iranian trade exceeded $1.7 billion in 2018, but the two countries have the potential to increase this indicator.

At a conference in the Iranian capital of Tehran on Sunday, Sergei Chebotarev said: “In 2018, bilateral trade exceeded $1.7 billion, and it grew compared to 2017.”

The minister noted that this volume was very modest adding that Russia and Iran had a “much higher potential” in this field. According to him, the two sides must do everything possible to achieve a new level in bilateral trade.

The two countries maintain close ties in hydrocarbons trade and work jointly on peaceful nuclear power projects in Iran. Earlier this week, Iran moved to create a free trade zone with the Eurasian Economic Union, which Russia is part of.

Source: Sputnik