Industry Minister:

Tehran, Moscow Officially Start Using National Currencies in Transactions

Date: 28 August 2022 - 16:40

News ID: ۱۰۶۲۱۹

TEHRAN - Iran’s Industry, Mine and Trade Minister Reza Fatemi Amin has announced that Tehran and Moscow have officially started doing business in their national currencies, namely rial and ruble.
Fatemi Amin also said talks are underway over production and distribution of Iranian cars in Russia.
He pointed out that over the past year, a new chapter has opened in economic ties between Tehran and Moscow and these relations have improved.
Fatemi Amin also referred to negotiations with Russia on exports of Iranian made cars to Russia, or their manufacturing in that country.
“We have also started exporting gas turbines, petrochemical products, refiner catalyzers and fruits and vegetables to Russia, and will in return import edible seeds and required automobile industry facilities from Russia,” he said.
In a relevant development on Monday, an Iranian deputy industry, mine and trade minister had said at the opening ceremony of Automobility Moscow 2022 exhibition that Iran’s presence in that expo is a new beginning for great Iran-Russia cooperation in the field of car manufacturing, and more important than that, in the field of provision and exports of automobile spare parts to Russia.