UPDATE: Source: US exit from Iran deal to raise dependency on Russia - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: Source: US exit from Iran deal to raise dependency on Russia

(Adds last paragraph)

MOSCOW, May 10 (PRIME) -- The U.SТ decision to quit a nuclear deal with Iran will increase economic dependency of the Middle Eastern state on Russia, a source with the Russian governmentТs foreign trade block told PRIME on Thursday.

УGrowth in IranТs economic dependency on Russia. More contracts on group A goods (production equipment) from Russia. Increa sing turnover,Ф the source said.

On Tuesday, U.S. President Donald Trump said his government plans to quit a nuclear program deal with Iran signed by Russia, the U.S., the U.K., China, France and Germany in 2015. He also announced resumption of sanctions against Iran which were suspended as the result of the agreement.

In January-March, trade turnover between Russia and Iran rose 18% on the year to U.S. $475.8 million, according to the Federal Customs Service, with grain, ferrous metals, oil and timber being the major Russian export items.

Deputy head of the Research and Forecast Department at Analytical Credit Rating Agency (ACRA) Zhannur Ashigali said that sanctions against Iran are unlikely to harm its relations with Russia because of a low trade turnover between the states.

But he said that cooperation with the Eurasian Economic Union (EAEU), comprising Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, may be hurt. In April, RussiaТs government approved a temporary agreement to create a free trade zone between EAEU and Iran for four years.

CEO of the Russian National Reinsurance Company (RNRC) Nikolai Galushkin said that the sanctions will not hurt RussiaТs insurance market.

Acting Communications and Mass Media Minister Nikolai Nikiforov said that Russia sees no reason for ceasing IT cooperation with Iran.

End

10.05.2018 16:03
 
 
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