Iran and Russia first established the joint economic commission in 1996 to deepen economic ties. The commission, which is now preparing for its 19th session in Tehran, reflects nearly three decades of evolving relations between the two nations. From its inaugural meeting in 1996 to its 18th session in April 2025, the commission has served not only as a framework for economic engagement but also as a symbol of resilience in the face of political pressure and Western sanctions.

Iran and Russia, which hold the world’s largest natural gas reserves, have significant opportunities to expand their presence in global energy markets. Together, the two countries account for more than 37 percent of the world’s gas reserves. Russia holds about 35 trillion cubic meters, representing more than 19 percent of global reserves, while Iran ranks second with 33 trillion cubic meters, or about 17.1 percent.

Relations between Tehran and Moscow have experienced periods of both cooperation and competition. As major holders of global oil and gas resources, the two countries have sometimes aligned as strategic partners and at other times competed in energy markets. However, both governments have demonstrated a clear commitment to strengthening cooperation across economic and political sectors with support from senior officials.

Growth and development through joint meetings

The joint economic commission held its first meeting in Moscow in 1996, led by Iran’s Mortaza Mohammadkhan and Russia’s Oleg Davydov. Discussions focused on energy, transportation and economic cooperation. The second session in 1998 expanded collaboration into new sectors, and the third session in October 2000 in Moscow added cultural cooperation to the agenda.

The fourth meeting in 2003 focused on interfaith dialogue, while the fifth session in 2004 emphasized industrial and energy cooperation. These early meetings helped establish the foundation for bilateral economic relations following the collapse of the Soviet Union.

The sixth session in Tehran in 2006 prioritized trade expansion, and the seventh meeting in Moscow in 2007 addressed key economic issues. During the eighth session in 2009, the two countries signed a comprehensive agreement consisting of 120 articles, outlining a broader framework for cooperation. The ninth session in 2011 and the 10th session in 2013 placed particular emphasis on energy and banking cooperation, marking a period of expansion and consolidation.

Subsequent meetings continued to advance bilateral ties. The 11th session in 2014, the 12th session in 2015 and the 13th session in 2016 each introduced new objectives for economic cooperation. The 14th session in 2018 and the 15th session in 2019, held in Tehran and Isfahan, focused primarily on expanding trade and energy partnerships.

Developing a roadmap for future cooperation

The 16th session in Moscow in 2022 marked a turning point, with the signing of multiple memorandums of understanding. The 17th session in Tehran in 2024 emphasized cooperation in LNG and petrochemical technologies.

The 18th session, held in Moscow in 2025, opened a new phase of bilateral cooperation, expanding engagement in energy, trade and banking. During that meeting, the two countries agreed to develop a roadmap for future cooperation, formalized in a memorandum of understanding signed by Iran’s oil minister and Russia’s energy minister as co-chairs of the commission.

Less than a year later, Tehran is preparing to host the 19th session, signaling a renewed push to strengthen bilateral cooperation and expand their role in the emerging global order. As two countries with vast oil and gas reserves, Iran and Russia have the capacity to play a decisive role in shaping global energy security.

Expanding cooperation under Western sanctions

The 19th session of the joint economic commission will begin Feb. 16 and continue for two days, bringing together experts from both countries to finalize a memorandum of understanding expected to be signed Feb. 18 by the two countries’ energy ministers.

The meeting follows the signing of a comprehensive strategic partnership treaty between Iran and Russia in 2025 and Iran’s parliamentary approval of a free trade agreement with the Eurasian Economic Union in 2025. These developments have further strengthened the foundation for bilateral cooperation.

The upcoming session is expected to address a wide range of areas, including energy, trade, finance and banking, transportation and logistics, customs, industry and mining, agriculture, health care, culture, tourism, science and technology.

Given the sanctions imposed by the United States and European countries, closer cooperation offers mutual benefits. For Iran, partnership with Russia could help reduce the impact of sanctions, facilitate access to advanced technologies and attract investment. For Russia, deeper engagement provides access to new oil and gas markets and strengthens its strategic position in global energy trade.