Iran reports surge in trade with Russia, Ukraine
Iran has reported an increase in trade with Russia and Ukraine in the 10 months to late January as fears grow that rising tensions between the two neighboring countries could impact the flow of exports from Iran.
A Monday report by the semi-official ISNA news agency showed that the value of Iranian trade with Russia and Ukraine had reached nearly $1.95 billion in the 10 months to January 20.
The report cited figures provided by the Iranian customs office (IRICA) showing that imports from Russia had grown over 30% year on year in March-January to reach $1.3 billion.
Wheat shipments accounted for more than half of Iranian imports from Russia over the period as they reached a value of $694 million, according to IRICA figures.
Iranian exports to Russia also increased by 24.6% in the 10 months to late January to $485.7 million, said the report, adding that food and agriculture products sent from Iran to Russia over the period had risen to over $291 million.
IRICA figures showed that Iranian imports from Ukraine, which mostly included wheat and other agrifood goods, increased nearly 106% in value terms year on year in January to reach nearly $112 million.
Iranian exports to Ukraine rose 40.3% between March last year and January this year to $50.8 million, said the report, adding that agrifood was responsible for a bulk of shipments sent from Iran to Ukraine over the period.
The figures come as Iranian authorities fear that deterioration of security on the border between Russia and Ukraine could affect a growing trend in trade between Iran and the two countries, especially with Russia.
Iran’s trade with Russia started to jump in late 2019 after Iran reached preferential trade arrangements with a Russia-led bloc of Eurasian economies.
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