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The trade turnover between Russia and Iraq for the first 8 months of 2022 reached 313 million dollars, thus exceeding the figures for the entire 2021 year, said the economic adviser to the Russian embassy in Iraq, Ilya Lobov, in an interview with RIA Novosti. "In the first eight months of this year, the trade turnover between Russia and Iraq has already exceeded the figures for the entire previous year."

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05 / 04 / 2023

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“According to the economic advisor of the Russian embassy in Iraq, Ilya Lobov, the trade turnover between Russia and Iraq for the first eight months of 2022 reached $313.1 million, exceeding the figures for the entire year of 2021. Lobov also noted that there has been a 2.5-fold increase compared to 2020. The two sides continue to work together to find new opportunities for bilateral trade growth and diversification of its commodity range, with a particular focus on the energy sector, which is a priority area for economic partnership between Russia and Iraq. The total volume of Russian expenditures and investments in this industry exceeds $14 billion. However, the two sides are also discussing a number of promising directions that are of mutual interest, including non-energy sectors of the economy.

According to RIA Novosti.”

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