"Increase of Iran’s economic dependence on Russia. More contracts on deliveries of Group A manufactured goods [means of production] from Russia. Trade increase between [Russia and Iran]," the source said, commenting on the potential consequences of the US withdrawal.
According to Russia’s Federal Customs Service, Russia-Iran trade amounted to $475.8 million in the first quarter of 2018, which is 18 percent more than in the same period of 2017. However, Iran’s share in Russia’s foreign trade currently stands at 0.3 percent.
READ MORE: Merkel: Europe Can No Longer Rely on US 'to Protect It'
On Tuesday, US President Donald Trump announced his decision to withdraw from the JCPOA, which requires Tehran to maintain a peaceful nuclear program in exchange for sanctions relief.
Trump also announced that he would re-impose US sanctions on the country. Following Trump's announcement, the leaders of France, Germany and the United Kingdom expressed their regret over Trump's decision in a joint statement, stressing their countries' commitment to the JCPOA.
