The Eurasian Economic Commission (EEC) has received official notification from Iran about completion of domestic procedures necessary for the Free Trade Agreement to go into effect.

Iran was notified in January 2025 that procedures in the EAEU had been completed.

Eurasian Economic Commission Trade Minister Andrei Slepnev stated that the agreement will enter into force on May 15, 2025.

“The new agreement will be an effective tool for developing trade between the countries and could lift mutual trade to a record $12 billion, approximately double current volumes, in the foreseeable future,” the EEC said in a news release.