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Iran & Russia Agree to Accelerate Joint Oil & Gas Projects

October 12, 2024
Iran & Russia Agree to Accelerate Joint Oil & Gas Projects

Iran & Russia Agree to Accelerate Joint Oil & Gas Projects

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Iranian President Masoud Pezeshkian and Russian President Vladimir Putin have agreed to expedite the implementation of joint projects in the oil, gas, and energy sectors.

The decision was reached during a meeting in Ashgabat, Turkmenistan, where both leaders participated in the “Relationship Between Times and Civilizations” forum.

According to a statement from the Iranian presidency, President Pezeshkian emphasized that his discussions with President Putin, which lasted about an hour, focused on accelerating the agreements between Iran and Russia.

These agreements cover various sectors, including energy, gas, railways, water desalination, and petrochemicals.

Pezeshkian noted that the completion of these projects would enable Iran to significantly reduce the negative impact of international sanctions by strengthening its economic ties with neighboring countries.

This was the first direct meeting between Putin and Pezeshkian since the latter’s election in July, following the tragic death of former Iranian President Ebrahim Raisi in a plane crash.

During their discussions, President Putin highlighted that relations with Iran remain a priority for Russia. He noted the increasing trade volume between the two nations and emphasized that cooperation on the international stage is growing stronger.

Iran’s recent full membership in the Shanghai Cooperation Organization (SCO) and BRICS was also highlighted as a major milestone in its international positioning, with Moscow and Tehran often sharing similar perspectives on global events.

The two leaders are expected to meet again in Kazan for further discussions, including addressing the evolving situation in the Middle East.

In June, Iran’s former oil minister, Javad Owji, revealed that under a bilateral agreement, Iran is set to receive 300 million cubic meters of Russian gas daily. This agreement aims to position Iran as a regional energy hub and further boost the nation’s trade relations and economic security.

Moreover, Gazprom, Russia’s state energy giant, signed a strategic memorandum of understanding with the National Iranian Gas Company (NIGC) to organize the supply of Russian gas through dedicated pipelines. This collaboration is seen as a critical step towards enhancing energy cooperation and ensuring energy security in the region.

The swift implementation of these agreements is expected to strengthen the energy partnership between Iran and Russia, making it a key driver of both countries’ economic strategies amid global uncertainties.

Tags: IranRussia
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