Upper house of the Russian parliament, Federation Council, approved ratification of an interim agreement leading to creation of a free trade zone between the members of the Eurasian Economic Union and Iran.

The agreement was signed in Astana on May 17, 2018 and is aimed at creating conditions for promoting the development of trade and economic cooperation between the countries through liberalization of the mutual trade rules, TASS reported.

The agreement comes into effect in 60 days after the last written notification on finalizing procedures – sent by Iran and Eurasian Union member states – is received.