IP - The volume of bilateral trade between Iran and Russia increased by 48% in the first quarter of 2024 compared to the same period last year, according to Russian Deputy Prime Minister Alexander Novak.

Novak announced the figure during a meeting with Iranian Petroleum Minister Javad Owji, who heads the Iranian side of the Iran-Russia Economic Cooperation Joint Commission, in Moscow on Friday. The Russian official noted that Russia's exports to Iran rose by 77% during the period, while imports increased by 13%.

Novak also expressed satisfaction with the launch of direct flights between Tehran and Grozny, the capital of the Republic of Chechnya. Iranian Mahan Air began operating direct flights between the two cities on June 10.
"I am confident that these flights will provide a significant incentive for tourists to travel between Iran and the North Caucasus region," Novak said.

During the meeting, Novak introduced Sergei Tsivilev, the Russian Minister of Energy, as his successor and the head of the Russian side of the Iran-Russia Economic Cooperation Joint Commission. Novak held the position for three years.

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