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The parameters of the interaction of 3d electron states with an electromagnetic wave, as well as the probabilities of magnetic and electric dipole transitions between states of the ground term of an iron ion, which is split by the crystal field, exchange interaction, and spin–orbit coupling, have been calculated. The dependences of the absorption lines on the magnitude and direction of the applied magnetic field have been determined. It has been shown that the optical diode effect discovered in [Sh. Yu, B. Gao, J. W. Kim, S.-W. Cheong, M. K. L. Man, J. Madeo, K. M. Dani, and D. Talbayev, Phys. Rev. Lett. 120, 037601 (2018)] can be explained by the interference of magnetic and electric dipole transitions.