The document was signed Wednesday, Feb. 18, following specialized working group sessions and a final meeting of senior officials from both countries. It was endorsed by Mohsen Paknejad, head of the Iranian side of the commission and Iran’s oil minister, and Sergey Tsivilyov, head of the Russian side and Russia’s energy minister.

The memorandum outlines a framework for implementing agreements between Tehran and Moscow, with an emphasis on expanding economic, trade and technical cooperation. It covers energy, oil and gas, petroleum products, transportation, banking and investment.

During the commission, specialized working groups reviewed progress on previous resolutions and discussed oil and gas field development, new investments, trade facilitation and the removal of operational barriers to joint projects. The outcomes were incorporated into the final memorandum.

Economic relations between Iran and Russia have grown in recent years, supported by the political will of senior officials. The regular convening of the joint economic commission has played a key role in advancing bilateral agreements.

The signing of the memorandum marks another step toward strengthening strategic cooperation and formalizing executive frameworks for joint initiatives.

The 19th Iran-Russia Joint Economic Commission between Iran and Russia opened Monday in Tehran. Over recent days, 17 specialized working groups held separate meetings to exchange views on various economic sectors.