In 2022, Russia invested $2.76 billion in Iran, accounting for almost half of all investments in the country, Financial Time writes, citing Iranian Economy and Finance Minister Ehsan Khanduzi.
In total, during the last fiscal year, Iran received $4.18 billion in investments. Afghanistan ranks second in terms of investments – $256 million. Iraq ranks third with $223 million in investments. Iranian expatriates invested slightly less: $220 million. The United Arab Emirates close out the top five with $177 million.
At the same time, if other states financed a lot of different projects, Russia invested in only three. For example, Afghanistan has invested in 59 projects, the United Arab Emirates in 16.
As Khanduzi explained, Moscow helped develop the industrial, transport and mining sectors. It was in these sectors that investments were directed.
Along with the Russian Federation, the minister called China a key economic partner of Iran. He noted Tehran’s commitment to increase cooperation with these countries.
In 2022, there was a strengthening of relations between Russia and Iran. Against the background of increasing isolation from sanctions, the Russian Federation was forced to look for new partners and significantly reorient its exports and imports.
At the end of the year, the first Russian bank launched cross-border transfers to Iran for natural and legal persons. Furthermore, the State Duma stated that Russia and Iran plan to create their own stablecoin for international payments.
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