TEHRAN- As announced by an official with Trade Promotion Organization (TPO) of Iran, the share of industrial goods of Iran's exports to Russia has increased significantly over the past three years, and Iran's exports to this destination have almost doubled.

Akbar Godari, the head of TPO's Central Asia, Caucasus, and Russia Office reported a significant growth in trade exchanges between Iran and Russia, stating: "Given the current trend and predicted trade plans, it is expected that Iran's exports to Russia will reach approximately $1.4 billion by the end of the current Iranian calendar year 1404 (March 20, 2026).”

“This is while at the end of the year 1403 (March 2025), our country's exports to Russia were about $1.1 billion”, the official added.

He further explained that according to statistics, the majority of imports from Russia consist of grains and oilseeds, which make up over 70 percent, with the remainder being production line machinery. In contrast, Iran's exports to Russia include 45 percent agricultural products, 37 percent industrial goods, 10 percent petrochemical and polymer products, and approximately 7 to 8 percent minerals.

Referring to the change in the composition of Iran's exports in recent years, he said: "In the years 1399 and 1400 (2020-2022), the volume of Iran's exports to Russia was about $500 million, over 90 percent of which consisted of fruits and vegetables. But today, while maintaining agricultural exports, the share of industrial goods has increased significantly, and Iran's exports to Russia have nearly doubled over the past three years."

The Iranian Ministry of Foreign Affairs has, in a statement, announced that the Iranian–Russian Treaty on Comprehensive Strategic Partnership is legally binding as of October 2, 2025.

“The conclusion of the treaty mirrors the willpower of leaders of the two countries to further deepen and enhance relations in all areas of mutual interest based on mutual respect, good neighborliness and common interests of the two nations,” read the statement.

“The Iranian–Russian Treaty on Comprehensive Strategic Partnership is a milestone in the history of relations between the two countries and envisions the upgrading of cordial ties between the two nations in various areas of mutual interest,” the statement also read.

“By specifying areas and priorities of cooperation between the two countries, this significant document delineates a bright framework for the enhancement of relations in different diplomatic, economic, trade, scientific-technological, energy, investment, defense cultural and other areas and lays the groundwork for coordination and synergy to serve mutual interests and boost cooperation to safeguard international peace and security and face growing threats and challenges against the rule of law on the international stage as well as the principles and objectives of the UN Charter,” said the statement.

“Being cognizant of the fundamental significance of safeguarding the principles and objectives of the UN Charter in order to protect international peace and security, Iran and Russia spare no effort to safeguard multilateralism and respect for international law, including through the enhancement of cooperation within the framework of multilateral mechanisms and organizations such the BRICS and the Shanghai Cooperation Organization,” the statement added.

The Russian Foreign Ministry has also announced that the treaty has officially come into effect, marking a landmark in bilateral relations.

The Iranian–Russian Treaty on Comprehensive Strategic Partnership, signed on 17 January 2025, by Russian President Vladimir Putin and Iranian President Masoud Pezeshkian, is a treaty for the improvement of ties between the two nations.

Under the deal, Iran and Russia aim to significantly enhance their collaboration across all sectors, including defense, energy, finance, transportation, industries, agriculture, culture, science, and technology. Th treaty marks a turning point, opening a new chapter in reciprocal ties between the two sides.

"This treaty reflects a strategic choice at the highest level of political leadership in Russia and Iran, aimed at strengthening comprehensive friendly relations and good neighborliness,” the Russian Foreign Ministry has noted.

Moscow has also emphasized that the development is a key watershed in the history of relations between the two countries, upgrading their partnership to a new level.

The treaty is seen as a reflection of the strategic alignment between Russia and Iran. It aims to boost cooperation on all fronts, including economic and military.

On September 18, Iran’s Oil Minister Mohsen Paknejad met Russian Energy Minister Sergei Tsivilyov and Gazprom CEO Alexei Miller in Tehran to review economic cooperation and preparations for the next meeting of the Iran-Russia Joint Economic Committee, the Oil Ministry’s news agency Shana reported.

Paknejad said the talks followed up on the outcomes of the 18th joint committee, which was held in Moscow, noting that “the results required further pursuit” and that the two sides reviewed them in detail during the meeting.

He added that some areas of cooperation required revision and further dialogue, which were discussed and resolved.

On the 19th committee session, scheduled to be hosted by Iran, the minister said the timing and agenda were also discussed and would be announced “at the appropriate time.”

On September 23, Iran’s Industry, Mining and Trade Minister Seyed Mohammad Atabak met Russian Economic Development Minister Maxim Reshetnikov in Moscow during the first joint committee session on implementing the Iran–Eurasian Economic Union (EAEU) free trade agreement.

Reshetnikov said 2025 marked a turning point in bilateral economic relations, citing key developments such as the signing of a comprehensive strategic treaty between Moscow and Tehran, the enforcement of the free trade agreement with the EAEU, and Iran’s admission as an observer in the bloc.

He noted that trade between Iran and Russia grew by 35 percent in May and June 2025 compared with the same period a year earlier, attributing the rise to the free trade agreement and the determination of both countries to expand commercial ties.

Reshetnikov reaffirmed Russia’s commitment to the letter and spirit of the accord and voiced hope for faster progress.

Atabak, accompanied by Iranian Ambassador Kazem Jalali, emphasized the role of the private sector in deepening trade and called for removal of obstacles such as financial transaction restrictions and divergent product standards.

He also underlined Iran’s commitment to completing the International North–South Transit Corridor (INSTC), saying groundwork for the Rasht–Astara railway had been prepared and construction would start in the coming months.

Iran and the EAEU signed their free trade agreement in St. Petersburg in December 2023. After ratification by member states, it came into effect in May 2025, eliminating tariffs on about 87 percent of goods traded.

The EAEU groups Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia, with Iran, Uzbekistan and Cuba holding observer status.

According to the figures released by Iran’s Customs Administration, Iran’s exports to member states of the Eurasian Economic Union (EAEU) rose by 20 percent in the previous Iranian calendar year (ended on March 19), reaching over $2.0 billion.

The volume of exports to EAEU countries totaled 5.059 million metric tons—up 21 percent compared to the previous year.

Breakdown of exports includes $1.121 billion to Russia, $505 million to Armenia, $278 million to Kazakhstan, $111 million to Kyrgyzstan, and $21 million to Belarus.

Iran also imported 2.174 million metric tons of goods worth $1.51 billion from EAEU member states in the same period. This marks a 39 percent decline in import volume and a 20 percent drop in value compared to the previous year.

Iranian officials have said that steel and petrochemicals are expected to account for 50 percent of the objectives set under Iran’s free trade agreement (FTA) with the Eurasian Economic Union (EAEU), highlighting the sectors’ pivotal role in boosting exports and activating trade opportunities in the region.

On August 15, Mohammad Ali Dehghan Dehnavi, head of the Trade Promotion Organization of Iran (TPO), said the FTA, which entered into force on May 15, 2025, is unprecedented for Iran, reducing tariffs on 87 percent of traded goods.

He noted that while previous preferential trade agreements with the EAEU had expanded trade volumes, this latest agreement presents a unique opportunity for deeper integration.

“Trade agreements create both opportunities and challenges. The overall outcome is positive for both sides if vulnerabilities are addressed and opportunities maximized,” Dehnavi said. He emphasized that steel and petrochemical industries are major drivers of production and exports, and leveraging them effectively could achieve half of Iran’s FTA objectives.

The official called on the private sector to actively engage in Eurasian markets, pointing to research identifying which Iranian products have the highest export potential. “Private companies should focus on maximizing profitability, while policymakers ensure collective benefits such as employment, economic growth, and foreign currency inflows,” he said.

Dehnavi also noted that export opportunities vary across member states, highlighting Russia as one of the most lucrative markets for Iranian products and promising further studies to optimize engagement in the region.

MA