Iran can become Russia's major trade partner in absence of Turkey

Iran's minister of Communications and Information Technology said Tehran can replace Turkey as Russia's major trade partner, official IRNA news agency reported on Sunday.

Russia has downed its economic relations with Turkey due to some political problems and Moscow is willing to increase ties with Tehran, Mahmoud Vaezi said.

The head of Iran-Russia Joint Economic Commission also said that Turkey may lose 4.5 billion U.S. dollars each year due to the Russian sanctions.

Following the nuclear deal, Iranian businessmen should seize the opportunity to compete with their foreign rivals and have active presence in the domestic and international markets, Vaezi added.

Relations between Russia and Turkey have soured after Turkish forces shot down a Russian Su-24 jet near the Turkish-Syrian border on Nov. 24, 2015 for alleged airspace violation.

Russia has imposed a comprehensive set of sanctions against Turkey after the incident.

The import of Turkish foodstuffs and other agricultural products to Russia have been curtailed. Charter flights in both directions have been halted, and the visa-free travel regime between the two countries has been suspended.

Russian companies are also banned from hiring Turkish citizens, while companies owned by Turkey or Turkish citizens are prohibited from providing services for state and municipal needs in Russia or participating in such areas as construction, tourism, hotel and lumber business.