Led by the Iranian Ministry of Petroleum's Department for International Affairs and Trading, the B2B meetings will be held concurrent with the 27th Iran International Oil, Gas, Refining and Petrochemical Exhibition, also known as Iran Oil Show, from May 17 to 20 this year.

According to the Secretariat of Iran-Russia Joint Economic Commission, the two sides’ delegations comprising four working groups for trading oil, gas, and petrochemical products, investment and export of technical and engineering services, manufacture, supply and repair of oil equipment and technological and knowledge-based cooperation will exchange views on boosting bilateral trade ties.

The meetings are aimed at familiarizing the Iranian and Russian delegations with each other’s regulations, incentives for investment in Iran, and investment opportunities in its oil, gas, and petrochemical industries.

Relations and cooperation between Iran and Russia, the two largest holders of the world’s oil and gas reserves, have been put on a new track under the Raeisi administration, prompting the two countries to seek the expansion of their ties in different areas, including economic and energy sectors.