This article informs the reader about a bit of the recent context for the trade between Russia and Iran and the prospective future of this relationship. The article reports that trade between Russia and Iran has increased significantly over the past three years with the amount of exports to Iran having doubled in the same time. Specific representatives of the respective countries Oil-sectors have met in an effort to create an order specific deal as well. Representatives from both countries report discussing the implementation of the Iran-Eurasian Economic Union Free Trade Agreement. Additionally members of the private sector are looking to work to reduce transactional costs and increase trade efficiency. The total value of Iranian exports to Russia is expected to reach $1.4 Billion by March of 2026.
I think that this is an important article because of its larger impact on both the region and global happenings. First, this increased trade is very beneficial for the region, this can be as simple as this brings in more economic action in Iran which will create more cashflow throughout Iran and thereby proxy will increase it in the region. This is very important as this is a region in which, partly because of significant conflict in the region, many citizens live in very poor conditions. Additionally, this opens the door for states in the region to distance themselves further from needing to interact with the US economically.
Both Russia and Iran, the two most obvious stakeholders, seem extremely likely to just continue in the direction they are currently heading with this deal. I see no reason for either country to not do so as there are benefits for all parties involved. A less obvious stakeholder, the US, should probably seek to start trying to work out relations with other countries in the region if they wish to limit the amount of economic resources that are flowing and available to Russia to fund the war in Ukraine; although, it’s hard to tell these days.
The Global Politics idea that this relates to the most is probably interdependence, this is because it shows the ways that the relationship between Russia and Iran, though not directly providing aid, gives more resources to Russia in order to keep funding their war against Ukraine. It also shows the role of EAEU in connecting countries on the edge of the region or even somewhat out of the reason the opportunity to insert themselves into the economic action of the Union and thereby the other countries.