Ahmad Asadzadeh told Shana: “In this meeting, the numerous memorandums signed between Iran and Russia in various economic and commercial sectors, including the $40 billion memorandum between the National Iranian Oil Company and Russia's Gazprom, will be considered.”

The National Iranian Oil Company and Russia's Gazprom last Tuesday (July 18) signed a memorandum of understanding worth about $40 billion for developing the Kish and North Pars gas fields, increasing the pressure of the South Pars field, developing 6 oil fields, swapping gas and petroleum products, completing LNG projects, construction of gas export pipelines and other scientific and technological cooperation.

According to Shana, the joint commission for economic and trade cooperation between Iran and the Russian Federation held 15 meetings until June 2018, and Tehran hosted the 15th one.

Iran's Oil Minister Javad Owji and Russia's Deputy Prime Minister Alexander Novak headed the Iran-Russia Joint Commission respectively.