TEHRAN – Trade between Russia and Iran is expected to see a significant boost in the coming years, fueled by a shift to national currency settlements and the implementation of the Comprehensive Strategic Partnership Treaty, according to Aleksey Dedov, Russian Ambassador to Iran. 

In an interview with TV BRICS, Ambassador Dedov highlighted the burgeoning economic and cultural ties between the two nations.

While acknowledging that the current trade turnover of $4.2 billion (in 2023) doesn’t reflect the full potential, Ambassador Dedov projected a 15% increase for 2024. He anticipates that the upcoming meeting of the Permanent Russian-Iranian Commission on Trade and Economic Cooperation, to be held in Russia, will provide further impetus for growth.

“Trade between Russia and Iran is generally demonstrating positive dynamics,” Ambassador Dedov stated. “We expect further growth in trade turnover at the end of this year.”

A key factor driving this growth is the move towards conducting nearly all bilateral settlements in national currencies, utilizing independent financial and banking messaging systems. This transition, enshrined in Article 20 of the Comprehensive Strategic Partnership Treaty, signed in January 2025, aims to simplify business operations and broaden cooperation across various sectors. The Ambassador noted that Russia has already begun accepting cards from the Iranian Shetab payment system, and the launch of Mir cards in Iran is anticipated soon.

The Comprehensive Strategic Partnership Treaty also lays the groundwork for deeper collaboration in the fields of culture, science, and education. Article 34 focuses on developing relations in culture and art, including creating favorable conditions for the Russian Cultural Centre in Tehran. The Rossotrudnichestvo office is actively seeking a suitable location for the center, with the large-scale Days of Russian Culture in Iran scheduled for June as a key event this year.

"This is the legal foundation of the whole range of cultural cooperation between the countries," said Dedov.

The treaty emphasizes the development of long-term ties in higher education, science, and technology. Partnerships between educational institutions, joint research projects, and specialized conferences are already underway.

"The agreement, on the one hand, confirms the current high status of relations, and on the other hand, sets the dynamics for further fruitful cooperation in cultural, scientific, and educational spheres," Ambassador Dedov stated.