Khandouzi Says Which Country Has Become Iran's Largest Investor

In the current financial year, Russia has become Iran's largest investor, with Moscow investing a total of $2.76 billion in the country. These investments are focused on financing projects in the mining sector, as well as in industry and transportation. This was stated by Iran's Minister of Economic Affairs and Finance, Ehsan Khandouzi, in an interview with the Financial Times.

Russian investments in the Iranian economy account for two-thirds of the total foreign investments in the country, amounting to $4.2 billion. Meanwhile, in 2021, the total financing for projects in Tehran was $1.45 billion. The minister did not disclose details of the joint projects with Russia but reminded that there is a connection between interbank transfer systems of the two countries.

Khandouzi named China as Iran's second most important investment partner. However, last year, the Republic ranked sixth in terms of investment volume, with $131 million in 14 local projects. Afghanistan, Iraq, the Iranian diaspora, and the United Arab Emirates ranked ahead of China.

The minister also added that over the 11 months of the year, Iran's oil exports grew by 12 percent, reaching $53 billion in monetary terms, indicating that it is impossible to 'isolate the economy.'