Iran, Russian Sign $30B Energy Agreements

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Tehran (November 3, 2017): Iran signed $30 billion worth of agreements with Russia during Russian President Vladimir Putin visits to Iran.

The mega agreements are preliminary energy agreements worth $30 billion.

According to international media Russian energy companies signed six energy agreements with Iran, the Iranian Deputy Oil Minister for International Affairs, Amir Hossein Zamanini, reported to have said. He noted that Russia and Iran had agreed on the need for “strategic co-operation in the energy sector.

The agreements are non-binding. The deals constitute an initial step toward “binding” contracts. These binding agreements could be signed within a year.

The details of the agreements—breakdown of investments, exploration and develop locations, etc remain unclear as for now.

Russian company Rosneft has been expanding its footprint in the Middle East. The company recently announced an agreement with the Kurdistan Regional Government (KRG) to acquire a 60% stake in the regional government’s pipeline.

Meanwhile, during his meeting with Russian President Putin, who called on him here,  Iran’s Supreme Leader Ayatollah Ali Khamenei has said Russia to extend cooperation for stability in Middle East and to isolate the US. The region could be stablilized with the cooperation of Russia and other countries, he added.

Earlier, Iranian President Hassan Rohani had told President Putin during their meeting here that the two counties could jointly tackle the terrorism in the region.

Lauding cooperation with Iran the Russian president had said that his country opposes anyone-side changes in Irani Nuclear agreement.

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Originally Posted on Abbtak Tv

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