Hassan Abbaszadeh, speaking on the sidelines of the 18th meeting of the Iran-Russia Joint Economic Commission on Friday, said that the reduction follows the implementation of the Eurasian Free Trade Agreement, effective May 15.

“The positive news we received from Russia’s Deputy Prime Minister Alexander Novak is that with the activation of the Eurasian free trade deal, import tariffs on products entering Russia will drop from about 20% to 4%,” he said. “This creates a strong foundation for increasing Iran’s petrochemical exports to Russia and the Eurasian region in the coming years.”

Regarding the upcoming Rosplast exhibition, Abbaszadeh said necessary arrangements have been made for Iranian plastic industry companies to participate under a unified pavilion for the Islamic Republic of Iran.

“Our goal is for major polymer exporters to showcase their capabilities to Russian firms, paving the way for increased future exports,” he added.

The deputy oil minister emphasized efforts to ensure Iranian petrochemical companies’ effective and targeted presence at the exhibition, turning it into a pathway for expanding exports to Russia and Eurasian countries.