Financial transactions with Russia are possible: TPO head

October 13, 2026 - 14:41

TEHRAN- Mohammad Ali Dehghan Dehnavi, Head of Iran’s Trade Promotion Organization (TPO), in response to a question about the organization’s measures to facilitate financial exchanges between Iranian traders and the member countries of the Eurasian Economic Union (EAEU), especially Russia, said: “One of the important issues in trade development is preferential and free trade agreements, which have been pursued seriously in the recent period and are being developed.”

According to ISNA, Dehghan Dehnavi, at a press conference on the 30th National Export Day ceremony and honoring national exemplary exporters, which will be held on October 21, referred to the implementation process of the free trade agreement with the Eurasian Economic Union, and stated: “This agreement has performed positively at a time when the country’s total exports have faced somewhat negative growth due to the issues that have arisen, and this shows that there is potential to develop trade in this market. The free trade agreement removes tariff barriers; in the agreement with the Eurasian Union, tariffs on 87 percent of goods have been reduced to zero; therefore, for this group of goods, there is no tariff barrier to exports.”

The Head of Iran’s Trade Promotion Organization, referring to non-tariff barriers to trade, said: “Although the agreement also mentions the removal of these barriers, it is not the main issue of the agreement, but we pursue these issues in trade negotiations. Payment systems and foreign currency transfers are among the non-tariff barriers to trade between Iran and the member countries of the Eurasian Union. The issue of banking systems and systems that can serve as alternatives to the banking system falls within the duties of the Central Bank, and our colleagues at the Central Bank have taken good measures in this regard.”

Dehghan Dehnavi, referring to the establishment of financial communications with Russia, said: “The possibility of communication and money transfers using national currencies has been provided. Of course, conditions are not like normal circumstances, and sanctions still create problems; especially since banks and financial institutions on the other side are not willing to cooperate fully due to considerations arising from sanctions. Despite these limitations, the conditions for financial transactions with Russia are suitable compared with many other countries, and in economic relations with the Eurasian Union, this is not the main concern.”

The Head of Iran’s Trade Promotion Organization considered standards and customs issues to be among the most important remaining non-tariff barriers in trade with the Eurasian Union and stated: “The National Standards Organization and the Customs of the Islamic Republic of Iran are trying to reduce these barriers.” He also announced the holding of meetings of the joint committee between Iran and the Eurasian Economic Union and said: “The EAEU trade minister will travel to Iran in the coming days. The responsibility for the joint committee related to the agreement between Iran and the Eurasian Union is held on Iran’s side by the Minister of Industry, Mine and Trade, and on the other side by the EAEU trade minister.”

On October 6, the official stating that Iran's share of the Russian market must increase, said: This country imports about $300 billion annually from various countries around the world, and despite the progress made, Iran's share of this large market is still negligible.

Dehghan Dehnavi said at the first Iran-Russia Trade Development Summit, focusing on Gilan and Astrakhan provinces, held in the Anzali Free Zone: Developing economic and trade cooperation with Russia is one of the programs that has been pursued over the past years, and one of the most important measures in this path has been the implementation of the Iran-Eurasian Economic Union Free Trade Agreement.

He added: This agreement has been implemented since April 2025, and based on it, tariffs on 87 percent of goods in Iran's trade with the five member countries of the Eurasian Economic Union, of which Russia is the largest, have been reduced to zero.

The Deputy Minister of Industry, Mining and Trade continued: The zeroing of tariffs has created an advantage and competitive power for Iranian traders, and the country's exporters can use this opportunity to be one step ahead of their rivals in the markets of the Eurasian Economic Union member countries.

He emphasized: Economic and trade convergence with the member countries of the Eurasian Economic Union must continue, and it is necessary to make optimal use of this opportunity and for all economic actors and the country's existing capacities to work to increase Iran's share of the Russian market.

The Head of Iran's Trade Promotion Organization, referring to the existing capacities for developing exports to Russia, said: Based on studies conducted, more than $50 billion of Russia's imports overlap with goods that Iran has the possibility to export, and activating this capacity can increase Iran's exports to this country from the current $1 to $2 billion to $10 or even $20 billion.

Dehghan Dehnavi continued: In addition to this capacity, new capacities must also be created, and to activate these capacities, planning and establishing direct communication between the economic actors of the two countries is necessary.

The Head of Iran's Trade Promotion Organization (TPO), stating that Gilan has a special position in trade with Russia, emphasized: In addition to its production capacities and export products, this province can also be a connection point and trade gateway for the country from a logistical point of view.

Dehghan Dehnavi stated: This province is connected to Russia as well as Kazakhstan, Azerbaijan, and Turkmenistan through the sea, and land and rail routes have provided other capacities for trade development.

He continued: Part of the rail project is being completed, and rail connection is currently established at the border; also, part of the goods transferred from China to the region arrive at Anzali Port via Kazakhstan and Aktau Port, and are distributed throughout the country from here.

The Head of Iran's Trade Promotion Organization (TPO) emphasized: These capacities show that Gilan, in addition to developing its own trade, can become a major commercial hub for the country.

According to him, to achieve this goal, completing the required infrastructure and defining new activities for the private sector is necessary and essential.

Dehghan Dehnavi emphasized the role of sending trade delegations in developing economic relations and added: Holding this summit and afterward planning to send trade delegations can be effective in developing trade between the two countries.

He added: Every trade communication and conversation, exchange of business cards, and negotiation among economic actors lays the groundwork for a new contract, export or import, joint cooperation, and investment.

Dehghan Dehnavi referred to the long-standing relations between Gilan and Astrakhan provinces and recalled: These relations must be in the field of investment in addition to trade, and the two sides can have joint investment in each other's capacities to provide a basis for increasing trade.

The Head of Iran's Trade Promotion Organization further emphasized: Part of the problems is caused by sanctions and foreign restrictions, and part is related to internal issues, including the multiplicity of laws and regulations, systems, instability of regulations, and administrative bureaucracy; our effort is to facilitate the path of trade at least in the area of internal obstacles that are within the government's control, and good measures have been taken and are being taken in this regard.

Dehghan Dehnavi also announced the drafting of an export support package by the Ministry of Industry, Mining and Trade and added: This package has been presented to the government and will be introduced next week, in which various supports for strengthening exports have been foreseen.

He also referred to measures being taken in the Government Economic Committee with the cooperation of the Ministry of Industry, Mining and Trade, the Central Bank, and the Ministry of Economic Affairs and Finance, and recalled: Regulations in the field of trade are being drafted, and if approved, part of the trade obstacles will be removed.

Dehghan Dehnavi called one of these cases the reform of the order registration process and added: One of the proposals is that order registration return to its primary function as a declaration of trade plan, and controls that can be carried out at the customs clearance stage be removed from the order registration stage.

The Head of Iran's Trade Promotion Organization, emphasizing that existing obstacles should not prevent the use of the country's trade capacities, stated: Iran's private sector has shown that despite restrictions, it can open the path of trade with initiative and effort and take big steps in this regard.

He considered holding the first Iran-Russia Trade Development Summit in Gilan as a measure to strengthen economic relations and added: We hope its effects will become visible in the coming months and years with increased exports from Gilan to Russia and other countries.

Dehghan Dehnavi also announced the assignment of a new trade mission to Gilan in connection with one of China's provinces and said: It is expected that this province, with proper planning, will use the new capacities for trade development.

The first Iran-Russia Trade Development Summit in Gilan was held in the Ebtehaj Hall of the Anzali Free Zone.

The summit, focusing on Gilan and Astrakhan provinces, was held with the presence of Mohammad Ali Dehghan Dehnavi, Head of Iran's Trade Promotion Organization; Teymour Pourheidari, Head of Iran's Export Development in Astrakhan and Director General of Industry, Mine and Trade of Gilan; Sergei Vladimirovich Azarov, Consul General of the Russian Federation in Rasht; Ahmad Heydarian, Consul General of the Islamic Republic of Iran in the Russian Federation; Hadi Haqshenas, Governor of Gilan; and Mostafa Taati Moghaddam, CEO of the Anzali Free Zone.

The purpose of holding the summit is to examine the opportunities, advantages, problems, and challenges of trade between Iran and Russia, especially Gilan and Astrakhan as the entry gates for trade between the two countries.

The summit had two specialized panels: examining the challenges and obstacles to the development of non-oil trade between Iran and Russia through the Astrakhan gateway, and from obstacles to solutions—the role of executive bodies in facilitating Iran-Russia trade and examining how to enter the Russian and Eurasian markets through the Astrakhan gateway.

MA

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