Tehran: Iran's oil minister has announced that negotiations with Russia regarding the development of a major joint oil field are nearing completion, alongside progress toward a gas import agreement. Speaking after the 19th Session of the Permanent Iranian-Russian Commission on Trade and Economic Cooperation, Mohsen Paknejad emphasized the significance of these developments.

According to Islamic Republic News Agency, the talks on transferring the development of the shared oil field to Russia are in their final stages. Paknejad noted that the gas trade negotiations have also advanced, with only a few clauses left to review, anticipating a final contract soon. He highlighted the importance of transitioning from understanding to implementation, attributing the progress to the constructive cooperation with Russian Energy Minister Sergey Tsivilyov and his team.

Paknejad expressed gratitude for the Russian efforts in overcoming obstacles and advancing the discussions. Meanwhile, Tsivilyov conveyed sympathy for the Iranian people following recent riots, attributing the unrest to external interference. He praised the successful coordination among various working groups of the joint commission, stating that the projects achieved significant progress over the past 11 months.

Furthermore, Iran and Russia have signed one cooperation document and four memoranda of understanding during the 19th session of the Iran-Russia Joint Economic Cooperation Commission in Tehran. These agreements encompass various sectors, including labor, employment, energy, and petrochemicals. The session followed two days of expert-level meetings between Iranian and Russian delegations, further solidifying the bilateral cooperation between the two nations.