Russia’s trade and investment into the Middle East is rapidly developing, with relations both through the Gulf Cooperation Council and the Arab League all helping boost bilateral trade by 25% during 2025. Partially driven by the developments along the INSTC, and new regional free trade agreements, we provide analysis of the growing Russia-Middle East economic partnership. Discover trade statistics, investment flows from the GCC, and business opportunities for companies in both regions.
Trade turnover between Azerbaijan and Russia rose 10.1% year-on-year to nearly US$4.8 billion in 2024, Azerbaijan’s State Customs Committee (SCC) has stated. This places Russia third among Azerbaijan’s foreign trade partners after Italy and Turkey. The volume of Azerbaijan’s exports to Russia decreased 1.5% year-on-year to US$1.178 billion. Exports to Russia accounted for 4.4% of […]
Saudi Arabia’s Economy and Planning Minister, Faisal bin Fadhil Al-Ibrahim, has said that Riyadh has not made the final decision to join BRICS and is still assessing its possible membership in the group, saying “The kingdom is always focusing on fostering more global dialogue.” He made the comments at the World Economic Forum in Davos, […]
The Eurasian Economic Union (EAEU) member states have completed the procedures needed for the entry into effect of the free trade agreement with Iran, the Eurasian Economic Commission (EEC) has stated to Andrei Slepnev, the EEC’s Trade Minister. Slepnev himself stated that “Currently, the procedures necessary for the entry into force of the free trade […]
The Russian Agriculture Ministry has stated that Russia exported over 700,000 tonnes of meat and by-products in 2024, 27% more than in 2023. Russia exported 34% more pork products, 25% more poultry products and 22% more beef products, and has additionally achieved more than 100% self-sufficiency for meat and meat products, which not only guarantees […]
Russia and the United Arab Emirates have concluded the final round of negotiations on and initialled the draft of a new Double Taxation Agreement (DTA) on income and capital and to help prevent tax evasion. DTA provisions typically protect tax payers from being taxed twice for the same income, such as a Russian national working […]
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Syria’s Transitional Administration has announced a new decree banning the importation of goods from Russia as well as Iran and Israel. This decision comes after the Syrian government had also imposed restrictions on the entry of citizens from Iran and Israel. This ban will be enforced at all land and sea border points in the […]
The Russian President, Vladimir Putin, has been discussing the development of a natural gas pipeline from Russia to Iran, stating that while the project will be implemented despite some difficulties, it will go ahead. Putin was speaking following talks with Iranian President Masoud Pezeshkian in Moscow on Friday (January 17). Putin said that “Speaking of […]
Russia’s VTB bank plans to open a full-fledged subsidiary bank in Iran by the end of 2025, the bank’s President and Board Chairman Andrei Kostin has stated. VTB opened a representative office in Iran in 2023. Kostin said that “We plan to open a full-service bank by the end of this year. VTB will be […]
The Iranian Ambassador to Russia, Kazem Jalali, has said that during 2024, between 1.8 million and 2 million tonnes of cargo were transported along the eastern branch of the North-South international transport corridor, which leads to Iran through Kazakhstan and Turkmenistan. This is approximately three times more than in 2023. Two other branches of this […]
President Vladimir Putin of Russia and President Masoud Pezeshkian of Iran have been holding talks at the Kremlin on Friday (January 17) and have signed a Comprehensive Strategic Partnership Treaty. According to officials from both counties, the document covers multiple areas, including defense, the fight against terrorism, the energy sector, finances, transport, industries, agriculture, culture, […]
Oman is interested in attracting Russian investors in the sectors of sustainable development, tourism, technology, as well as other areas, according to the Omani government. In order to create favorable conditions for foreign investment, Oman has been developing special economic zones in the country and has specifically created areas where the Sultanate needs a Russian […]
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