The MoU was signed by Mohammad Sadeq Jokar, the IIES chief, and Alexander Stuglev, the Roscongress Foundation CEO, on the sidelines of the 6th Russian Energy Week International Forum.

Based on the memorandum, the two research centers will jointly study proposed projects for energy cooperation between Iran and Russia as the first step and will announce whether a project is feasible and beneficial.

International developments and sanctions have provided Iran and Russia a historic opportunity to cooperate and utilize each other’s capacities and capabilities with the aim of meeting the needs of oil and gas industry, he added.

Following the signing of the MoU, Jokar continued, IIES and Roscongress Foundation will form a think tank to study and purse bilateral cooperation.

The 6th Russian Energy Week International Forum kicked off in Moscow on Wednesday with a speech delivered by President Vladimir Putin.

A specialized session of the forum dubbed “Global Oil and Gas Market: Surveying a Turbulent Period” was held in the presence of Iranian Oil Minister Javad Owji, Russian Deputy Prime Minister Alexander Novak, and some top officials of the petroleum exporting countries.