Moscow: Russian Energy Minister Sergey Tsvilov announced that Russia and Iran have signed a free trade agreement following intensive efforts by the joint governmental committee. Based on the strategic partnership established by Presidents Vladimir Putin and Ebrahim Raisi last January, the agreement is set to come into force on May 15, 2025. According to Yemen News Agency, Tsvilov revealed that trade between Russia and Iran grew by 16.2% in 2024, reaching $4.8 billion, reflecting strengthened economic ties between the two countries. The two nations are developing their partnership through 17 joint working groups, covering areas such as energy, industry, agriculture, transportation, and mutual investments. Negotiations are ongoing to expand cooperation, including infrastructure projects and financial integration.
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