Iran, Russia Reached ‘Fundamental Agreements’ On Expanding Ties - Raisi

By Staff, Agencies

Iranian President Sayyed Ebrahim Raisi said Iran and Russia reached “fundamental agreements” on expanding all-out bilateral relations to secure mutual interests.

“Undoubtedly, the development of relations with Russia will contribute to the security and prosperity of the two nations. Certainly, such security-building cooperation will be for the sake of the region,” Raisi said after arriving in Tehran from Moscow around midnight.

He said that during his Russia trip, which began on Wednesday, the two sides discussed steps to challenge the dominance of the US dollar and continue trade in their national currencies.

“Our oil minister had good agreements with Russian energy officials, the effects of which will emerge later,” he said, adding that good agreements were also reached on removing obstacles to boosting trade relations.

Officials from the two countries have said the two sides seek to increase the current record $3 billion bilateral trade.

"We decided to increase the level of trade between the two countries to $10 billion in the first stage," Raisi said.

"In the field of agriculture, there were also good discussions that would lead to real exchanges of agricultural products," he added.

In the field of transportation, the two sides decided to advance the North-South corridor which will facilitate transportation and greatly reduce transportation time, the Iranian president added.

In 2002, Russia, Iran, and India signed an agreement for the International North-South Transport Corridor [INSTC], a 7,200 km multi-mode network of ship, rail, and road route for moving freight between India, Iran, Afghanistan, Azerbaijan, Russia, Central Asia and Europe.

The INSTC is seen a game-changer that will shorten the distance and lower the cost of transportation from South Asia to Europe through Iran and Russia and potentially serve as an alternative to the Suez Canal for East-West trade.

Tehran and Moscow also reached agreements to expand their cooperation in the industry, defense, and aerospace sectors, Raisi said.

On the first day of his two-day trip, which he described as a “turning point” in Iran-Russia relations, Raisi had a three-hour meeting with his Russian counterpart Vladimir Putin, during which the Iranian president said the Islamic Republic seeks to forge strategic relations with Moscow.

Later on Wednesday, Raisi met with Iranians residing in Russia. On Thursday, the Iranian president addressed the State Duma and attended the prayers at the Moscow Grand Mosque at the invitation of Rawil Gaynutdin, chairman of the Russian Mufti Council.