Russia-Iran political ties are at the highest level, added the top diplomat, citing meetings and phone conversations between the two countries’ officials and particularly the meeting between Iran’s President Seyyed Ebrahim Raisi and his Russian counterpart Vladimir Putin in Moscow.

Novak expressed his gratitude to Iran’s Minister of Petroleum Javad Owji, who is also the Iranian chairman of Iran-Russia Joint Trade and Economic Cooperation Commission, and added, “Russia had close contacts with the Iranian opposite numbers in early months of 2022.”

Different trade and economic delegations from Iran visited Moscow, recalled Novak, adding that the Russian side agreed to dispatch a delegation to Tehran to continue negotiations.

“We are trying to achieve the goals pursued by the two countries’ leaders, namely the development of trade, economic, and political cooperation,” noted the deputy prime minister, adding that Russia-Iran trade volume amounted to $4 billion last year.

The figure was the best index in the past 10 years but it is not considered enough when the two countries’ capacities are put into consideration, justified Novak.

New Agreements to Boost Cooperation

Novak described the Russian delegation’s visit to Tehran and its talks with Iranian officials as very important.

Today’s talks and agreements could accelerate the expansion of trade and economic relations between the two countries, he assured.

The Russian and Iranian officials explored all avenues to strengthen bilateral economic relations, the deputy prime minister said and added that bilateral cooperation in the banking and monetary sector was among topics discussed today.

“We agreed to use national currencies and run our monetary systems,” Novak said, announcing that Iran would send a delegation to Russia to put today’s words into action.

Shifting to the North-South Transport Corridor, he stated that the two sides exchanged views about the west-east route and the Caspian Sea’s capacities.

The transit route has now the capacity for transporting some 15 million tons but the figure could soar to 30 and even 50 million tons in the next three to five years through implementing the agreements reached today, Novak continued.

Russia’s Needs

Novak voiced Russia’s readiness to have a strong presence in Iran’s ports such as Chabahar and Bandar Abbas.

He said that Russian experts will visit the Iranian ports within a month to assess their capacities.

Given the status quo, cooperation between Moscow and Tehran in the export sector is of great significance, noted the deputy prime minister, adding the Russian delegation offered a list of products his country needs for its auto, shipbuilding, and pharmaceutical industries.

According to Novak, oil and gas swaps, investments in oil and gas projects, acceleration of free trade contract, and cooperation in the nuclear energy sector were among the issues discussed by the Russian and Iranian officials.

He expressed hope that the adopted decisions will help the two countries take major strides toward developing their trade and economic relations.

Heading a high-level delegation, the Russian deputy prime minister arrived in Tehran to discuss his country’s cooperation with top Iranian officials.

Iran and Russia have vast oil and gas reserves and enjoy high geopolitical status. The two countries can change the equation in international energy and economic sectors.

Both Iran and Russia have energy-based systems and their economies have developed through exporting related products.