Hossein Shameli, the Iranian oil minister’s special adviser and assistant for ‎international and trade affairs, made the remarks in an address to the opening ‎ceremony of the first business-to-business (B2B) meetings between Iranian and ‎Russian oil and gas companies here in Tehran on Tuesday. ‎

He stressed that Iran and Russia play a “fundamental” role in meeting the world’s ‎energy needs, adding the two countries’ cooperation can be of contribution to the ‎sustainability of the global energy supply.‎

Shameli noted, “We maintain that the bilateral use of [modern] technologies will ‎play a key role in the development of and production from the two countries’ ‎resources.”‎

He emphasized that the two countries’ private sectors can play a significant role in ‎preparing the ground for the exchange of experiences in the fields of educating ‎human resources and creating new financial mechanisms for accelerating and ‎facilitating expansion of the bilateral relations, which are all very “essential” for the ‎development and completion of the two states’ energy chains. ‎

Shameli added economic development will be among the outcomes of such ‎cooperation, saying the two countries can, within a “dynamic and effective” ‎structure, enhance their cooperation in the energy sector and move toward ensuring ‎energy supply sustainability and their own economic growth. ‎

He said the exchange of technical and engineering services between the two ‎countries with the active presence of their technology-based companies can be ‎further promoted, for which Iran and Russia are required to place on their agenda ‎sharing the required technologies. ‎Shameli voiced the Iranian Oil Ministry’s readiness to support the two countries’ ‎public and private companies and follow up on the implementation of the bilateral ‎cooperation policies until the achievement of the desired results. ‎

He described the prospects of the Iran-Russia cooperation as “long-term and ‎lasting.”‎

Shameli said the B2B meetings have provided the two countries with a “favorable” ‎opportunity to consult and expand cooperation among their knowledge-based ‎firms in the energy field, as the first step toward fostering collaborations between ‎their private sectors. ‎

He also proposed that an investment fund would be established by the two ‎countries for financing joint oil and gas projects.‎

Russian Deputy Prime Minister Alexander Novak arrived in Iran on Tuesday on a ‎two-day visit at the ‎head of a high-ranking delegation for talks with Iranian ‎officials.‎

Novak is expected to meet Iran’s First Vice President Mohammad Mokhber, Oil ‎Minister Javad Owji and ‎Central Bank Governor Mohammad-Reza Farzin. ‎

He will also attend the opening ceremony of the 27th Iran International Oil, Gas, ‎Refining and ‎Petrochemical Exhibition (Iran Oil Show 2023), and visit a number ‎of leading Iranian ‎companies.‎

Cooperation in the energy sector will be among the Russian deputy PM’s ‎discussions with Iranian officials.