In a meeting with Alexander Novak, Russia’s deputy prime minister, Mohsen Paknejad emphasized the importance of the Joint Economic Cooperation Commission session.

“I would like to thank the Russian government and people for hosting this commission,” Paknejad said Thursday. “The strategic treaty has now been approved by both houses of the Russian parliament and is under review in Iran’s Islamic Consultative Assembly.”

He described the treaty as the beginning of constructive engagement, elevating bilateral economic cooperation to a new level. “There is vast untapped potential for collaboration between Iran and Russia across various sectors,” he added.

The oil minister highlighted the commission’s role in opening new avenues for cooperation, calling the meeting an opportunity to address challenges and implement structural reforms to strengthen ties.

Noting Novak’s extensive experience as Russia’s former energy minister and longtime head of the joint commission, Paknejad expressed confidence in his constructive role in advancing shared goals.

 Russia backs Iran’s membership in SCO, BRICS 

Novak pointed to growing economic exchanges between the two countries, citing infrastructure projects in energy and transportation as key areas of cooperation.

He also voiced Russia’s support for Iran’s membership in international frameworks like the Shanghai Cooperation Organization (SCO) and BRICS.

“I am pleased with this meeting and hope we can have productive discussions on bilateral economic and trade projects,” Novak said. “We will also address infrastructure initiatives in energy and transportation, which are under the direct oversight of both countries’ presidents.”

He noted a positive trend in trade, with Iran-Russia trade volume rising by about 13% in 2024, reflecting strong commercial potential. “We aim to further strengthen this growth,” he added.

Novak also referenced Iranian President Masoud Pezeshkian’s recent visit to Moscow, where a landmark treaty was signed on Jan. 17, 2025, paving the way for expanded cooperation.

“We congratulate Iran on joining SCO and BRICS,” Novak said. “The Islamic Republic of Iran is uniquely positioned in high-level international mechanisms beyond shared interests, which is important to us.”