Russia, Iran sign agreement for economic collaboration

Iranian Oil Minister Namdar Zanganeh and Russian Energy Minister Alexander Novak signed a range of economic agreements in Tehran.

Russia, Iran sign agreement for economic collaboration

World Bulletin / News Desk

Iran and Russia signed a range of economic agreements in Tehran, the Iranian capital, on Tuesday, according to local media.

During the Iran-Russia Trade Conference in Tehran, Iranian Oil Minister Namdar Zanganeh and Russian Energy Minister Alexander Novak signed an economic cooperation agreement, according to Iranian official news agency (IRNA).

The two countries addressed various sectors of the economy. They spoke of the development of oil projects and measures to facilitate their energy investments.

“We will produce new electricity power plants with the new agreement. Our plan is to build power plants which will produce 2,800 megawatt electricity in Iran," said Hamid Chitchian, Iranian Energy Minister. "Russian companies [will build] 10 power plants in total.”

"It’s time for a more powerful collaboration to provide multi-faceted partnership to Russian and Iranian businessmen," added his Russian counterpart Alexander Novak said.

Novak added that, European sanctions on Russia would’t affect the energy partnership of Moscow and Tehran. "We are cooperating with Iran within the framework of mutual profit, so our partnership is not connected with European sanctions on Russia."

Iranian Oil Minister Namdar Zanganeh said that Iran and Russia signed important agreements which will allow maximum mobility for the economy of both countries. “We are planning to use [the Iranian] rial and [the Russian] ruble instead of the dollar” he said.

Trade between Iran and Russia amounts to $5 billion per year, added Zanganeh.

Last Mod: 10 Eylül 2014, 09:31
Add Comment