Iran-Russia Joint Economic Commission cochairs discuss further cooperation

SHANA (Tehran) – Iran’s Oil Minister Javad Owji and Russia’s Deputy Prime Minister Alexander Novak, the cochairs of the 17th Joint Economic Commission between the Islamic Republic of Iran and the Russian Federation, exchanged their views on the expansion of bilateral cooperation in Tehran on Wednesday.

The two sides discuss the measures taken to promote their cooperation in different areas, including the oil and industry, roads, housing, standards, and free trade zones.

Putting great emphasis on Tehran-Moscow cooperation in the oil and gas sector, Owji said the two countries will hold more talks in this regard.

Iran and Russia can cooperate in all economic fields, he underlined and added Iran’s First Vice President Mohammad Mokhber has also held constructive talks on promotion of cooperation with Russia.

Novak, for his part, referred to his meeting with Mokhber today, saying their talks revolved around trade and economic issues.

He said, “During their meeting in Moscow last December, Iran’s President Seyyed Ebrahim Raeisi and his Russian counterpart Vladimir Putin pointed to the energy sector’s key role in broadening bilateral cooperation.”

The deputy prime minister expressed hope that the presence of big Russian oil and gas companies in the meeting will help follow up bilateral cooperation in trade and economic fields.

Shifting to the 7th Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government slated for March 2 in Algiers, the capital of Algeria, Novak said a considerable time has been so far taken to prepare the upcoming summit’s declaration aimed at paying more attention to transmission of natural gas and liquefied natural gas (LNG).

He also pointed to Iran-Russia close cooperation in the OPEC+ alliance.

“We are ready to hold constructive talks on formation of an energy hub on Iran’s initiative within the framework of the Shanghai Cooperation Organization (SCO),” Novak underlined.

He touched upon the participation of Russian companies in Iran’s oil projects, naming ZN Vostok (ZNV), which is cooperating with Iran on development of five oil fields.

Iran and Russia will sign six cooperation documents in the presence of the commission cochairs today.

News ID 638161

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