- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
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- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, July 25 - Russia and Iran have discussed energy cooperation between the two countries and through OPEC as part of their efforts to blunt the impact of Western sanctions.
TEHRAN, Young Journalists Club (YJC) - According to Russia’s Energy Ministry, Iranian Oil Minister Bijan Zangeneh and Russian Energy Minister Alexander Novak met in Moscow and discussed the possibility of Russian oil companies taking part in projects in Iran.
President Vladimir Putin has said Russia is prepared to continue its oil investment in Iran at the level of $50 billion in the face of US plans to reimpose sanctions on the Iranian oil and gas sector on November 4.
A $4 billion deal signed by a major Russian oil company “will be implemented soon” in Iran, Ali Akbar Velayati, a top adviser to Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, said this month after visiting Moscow.
Velayati met Putin who reiterated that Russia rejected America’s decision to impose sanctions on Iran.
The Iranian official said two other major Russian oil companies, Rosneft and Gazprom, had started talks with Iran’s Ministry of Petroleum to sign contracts worth up to $10 billion.
Iran and Russia have yet to implement an oil-for-goods scheme originally signed in 2014 and extended for five more years in April, which calls for Iranian crude exports of up to 500,000 barrels per day in return for Russian goods.
The scheme includes Iran’s use of Russian machinery, equipment and installations Iran needs in its strategic petroleum, mining, construction and transportation sectors.
A tentative arrangement calls for swapping around 300,000 barrels per day of Iranian crude oil via the Caspian Sea and the rest from the Persian Gulf.
As many as 12 projects in Iran’s petroleum sector have been presented to Russia’s Gazprom, Rosneft, Gazprom Neft, Zarubezhneft, Taftneft and Lukoil for development.
Novak has said Russian companies are open to partnership with other foreign entities for work in Iran – something which Iranian officials have been encouraging as a way to guard against sanctions.
In March, India’s ONGC Videsh Ltd (OVL) signed a cooperation agreement similar to the one Zarubezhneft inked with Iran’s IDRO Oil a month before to jointly bid for the development of Susangerd oilfield in southwest Iran.
Zarubezhneft has already signed a $742 million deal with Iran’s Dana Energy to boost production at Aban and Paydar fields in Ilam province near the Iraqi border.
Iran and Russia have a common reason to seek each other. Russian oil firms are under sanctions from the West over the Ukraine crisis while the specter of unilateral US sanctions has been driving international firms away from Iran.
Nevertheless, the two sides have a bumpy road ahead because they are natural rivals.
Iran and Russia interchangeably own the world’s biggest gas reserves beside being major oil producers.
“The fact is that even after the implementation of the JCPOA and at the height of the strategic and political cooperation between Iran and Russia, economic and trade cooperation with the country in order to deepen strategic relations was at the minimal level,” Tehran-based Sharq daily wrote.
“This was partly due to the fact that in principle there is no advantage in establishing and strengthening economic and trade relations between Iran and Russia in comparison with Europe and Asia, and partly because the two sides basically do not believe in the establishment and sustainability of such relations.”
According to the paper, for Russian companies the priority now is to work with American and European companies.
“Therefore, Iran in principle cannot count on economic and trade cooperation with Russia and Russian companies, and perhaps Iran's work with Russians and Russian companies to reduce the risks of the new round of US sanctions would be much harder and more expensive than with European companies," it added.
However, proponents of closer ties believe that geostrategic conditions have changed for both countries and that a new era of cooperation might be feasible for Russia and Iran despite having a history of mistrust.
Source: Presstv
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