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situation report

Apr 24, 2018 | 13:47 GMT

1 min read

Russia: Prime Minister Signs Eurasian Economic Union Free Trade Agreement with Iran

Russian Prime Minister Dmitri Medvedev approved an interim, four-year term agreement for the formation of a free trade area on a limited range of goods between the Eurasian Economic Union and Iran, Tass reported April 24. Negotiations between Iran and the union, which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, to establish a free trade zone began in 2015. Iran has been seeking additional opportunities for alternative trade as it faces a May 12 deadline regarding whether the United States will renew sanctions relief under the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action. 

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