Iran-Russian oil, gas co-operation accelerates
Iran and Russia have started new joint projects in the oil and gas industries after western countries increased harsh sanctions against both countries, local media has reported.
The Ebtekar daily reported that Russian contractors and investors had invested $4.5bn in seven Iranian oil and gas fields. Some of the projects had already started and were up to 35 percent complete, it added.
Western countries have hit Russia with several sanctions since its invasion of Ukraine, while Iran was saddled with a new round of sanctions following its recent brutal crackdown on nationwide anti-government protests.
The sanctions have served to bring Tehran and Moscow closer together.
On Tuesday, Javad Oji, Iran’s oil minister, said that collaboration between the two countries would serve to “neutralise” the economic pressures exerted by the West.
“The two countries can neutralise international sanctions by working together… and in the future, our economic ties will increase on a daily basis,” Oji was quoted as saying.
On Tuesday, Iran and Russia also signed four deals to begin collaboration in the fields of transportation, health and banking.
Iran and close Russian ally Armenia have also agreed to double the amount of natural gas that Tehran sells to Yerevan, and to extend their gas trade agreement to 2030, the ISNA news agency reported.
The deal was made during a visit by Armenian Prime Minister Nikol Pashinyan to Tehran on Tuesday.
Iran-Russian oil, gas co-operation accelerates
“Now we export one million cubic metres of gas to Armenia daily, which will be doubled based on the new memorandum,” said Majid Chegeni, Iran’s deputy oil minister.
