Russia interested in investing in Iran’s mining sector

Business Materials 2 March 2013 14:33 (UTC +04:00)

Azerbaijan, Baku, Mar.2 / Trend F.Mehdi/

Russia is interested in investing in Iran's mining sector, IRNA quoted Iranian deputy industry minister, Fereidoon Ahmadi, as saying.

On the sidelines of a meeting with a delegation of Russian industry official in Tehran, Ahmadi said that Iran offers a lot of opportunities to investors in the mining sector.

Russian companies can invest in different fields of the mining sector in Iran, he noted.

Russian Ambassador to Iran Levan Dzhagaryan has said that the two countries are willing to give a boost to their bilateral trade.

He added that his country will make effort to replace the U.S. dollar with the Russian ruble in a bid to facilitate the two-way trade.

On February 12, Iran and Russia signed two deals for boosting bilateral trade in Moscow.

Iranian Foreign Minister Ali Akbar Salehi and Russian Energy Minister Alexander Novak attended the signing ceremony, which was held at the end of the 10th annual meeting of the Russian-Iranian Business Council (RIBC).

In June 2012, Iranian Industry, Mines and Trade Minister Mehdi Ghazanfari said that annual trade between Iran and Russia is currently around $4 billion, but the two countries have the potential to raise it to $8 billion.

In January 2012, Iran and Russia started using the rial and the ruble in their trade exchanges and dropped the U.S. dollar.