News in Brief
Two-month aluminum production tops 112k tons
IRNA – Four Iranian companies produced 112,767 tons of aluminum ingots in the first two months of the current Iranian year (started on March 21, 2023).
The corresponding figure for preceding year which was 114,850 tons shows a near two percent decrease, according to a Saturday report by Iranian Mine and Mining Industries Development and Renovation Organization (IMIDRO).
INSTC, safe alternative to Suez Canal
IRNA – Russian Deputy Prime Minister Andrey Belousov said that the International North–South Transport Corridor (INSTC) passing through Iran can be a safe alternative to the Suez Canal.
The current transportation infrastructure, which was historically created to move goods between East and West, can no longer meet the needs of the world, the Russian official stated.
Tehran, Moscow
to sign FTA
IRNA – The free trade agreement (FTA) between Tehran and Moscow is in the final stages and will be signed soon, said Vladimir Ilichev, the deputy minister of economic development of the Russian Federation.
He said that Russia is currently negotiating similar FTAs with the United Arab Emirates, Egypt and Indonesia, as it is expected that these agreements will be implemented in the next two to three years.
After the imposition of US sanctions, the dollar and the euro have lost their dominance in the settlement of Russian accounts, the official noted.