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Iran and Russia Set to Boost Trade Turnover to $10 Billion in Just 4 Years!
Business cooperation between Russia and Iran is rapidly evolving, driven by the Comprehensive Strategic Partnership Treaty, which has tripled collaborations in recent years. Businessman Aleksander Sharov noted that this treaty has spurred increased trade turnover and opportunities in energy and agriculture, potentially raising bilateral trade from $4 billion to $10 billion in the next 3-4 years. Key sectors for growth include gas, petrochemicals, and food products. Additionally, Iran’s potential closer ties with the Eurasian Economic Union (EAEU) could enhance economic relations further, especially with the upcoming free trade zone agreement, which will eliminate duties on over 80% of goods traded.
Iran’s Currency Plummets to One Million Rial per Dollar Amid Trump Threats
The Iranian rial has plummeted to a record low of one million per US dollar, reflecting a deepening economic crisis exacerbated by US sanctions and inflation exceeding 40%. Food inflation has soared to around 100%, threatening unrest as millions of Iranians struggle to survive on monthly incomes below $150. The rial’s decline began following the US withdrawal from the JCPOA in 2018, and negotiations with the Biden administration have stalled. Tensions escalated after President Trump warned Iran of severe repercussions if its Houthi allies retaliate following US airstrikes, intensifying concerns about Iran’s economic future and potential civil unrest.
Iran and Turkey Forge New Paths to Achieve Ambitious $30 Billion Trade Partnership
Iranian and Turkish trade delegations recently met to advance a memorandum of understanding aimed at achieving a $30 billion trade target. Led by Reza Masroor, Iran’s delegation focused on enhancing collaborations within free trade zones during discussions with Turkey’s Trade Ministry. Their agenda included joint projects and investment opportunities. The Iranian ambassador to Turkey noted a rise in trade volume from $11.8 billion to over $17.5 billion this year, with projections reaching $19 billion by year-end. Emphasizing the need for infrastructure upgrades in transport sectors, both nations remain committed to strengthening their economic ties and achieving significant trade milestones.
Iranian Ports Achieve Milestone: 215 Million Tons of Goods Loaded and Unloaded, Reports PMO
Recent reports highlight a surge in operations at Iranian ports, emphasizing their role in the economy. Between March 21, 2024, and February 22, 2025, over 25 million tons of oil and more than 49 million tons of non-oil goods were unloaded, while over 69 million tons of oil and over 70 million tons of non-oil products were loaded. Container operations also saw a 12% increase, with 2,842,736 TEUs handled. This growth reflects the efficiency of Iran’s maritime logistics and the government’s investments in port infrastructure, positioning Iran as a key player in global trade.
Petrochemical Production Set to Surge: Output Capacity to Reach 105 Million Tons by Year-End!
The CEO of Iran’s National Petrochemical Company (NPC) announced plans to increase the nominal production capacity to 105 million tons by March 2026, enhancing Iran’s global petrochemical market position. This ambitious growth strategy aims to stimulate economic growth, create jobs, and diversify product offerings. The NPC is also emphasizing sustainability and innovation, incorporating advanced technologies to improve production processes and reduce environmental impacts. The initiative seeks to attract domestic and foreign investment through favorable policies, fostering strategic international partnerships. Successful implementation of these goals could significantly strengthen Iran’s economic resilience and competitiveness in global markets.