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Iran, Russia to continue oil cooperation

Moscow, ian Petroleum Minister Bijan Zangeneh and his Russian counterpart Alexander Novak discussed the latest development in Russian oil market and stressed developing mutual cooperation in oil field.

During the meeting on Monday, both sides reviewed bilateral relations in fuel, energy, global market and cooperation in the framework of the Organization of the Petroleum Exporting Countries (OPEC).

Novak referred to the fact that relations between Iran and Russia will be reinforced, saying Moscow is following up the policies set by the leaders of both countries on developing cooperation.

He added that Russia is trying to broaden legal bases and implement the key plans for investment.

Novak who is the chairman of IranRussia joint economic cooperation commission, expressed happiness over promoting allout relations.

He also pointed to negotiations between Iranian and Russian leaders regarding development of oil fields, saying cooperation between two countries will be reinforced.

Novak went on to say that Russia will maintain cooperation with Iran in the framework of implementing OPEC plus agreement and Gas Exporting Countries Forum.

The 15th economic joint commission of Iran and Russia is slated to be held on June 18 in Isfahan, he noted.

Meanwhile, Zangeneh told reporters that negotiations with Russian side focused on bilateral relations in oil, energy fields and the situation of the global market.

Referring to discussing US sanctions with Russian side, he said three oil giants namely Iran, Venezuela and Russia are under US illegal sanctions.

Sanctions has created instability in oil market and has worried oil consumers, he added.

Commenting on Europe's Instrument in Support of Trade Exchanges (INSTEX) impact on facilitating financial relations in the framework of Iran nuclear deal also known as the Joint Comprehensive Plan of Action (JCPOA), Zangeneh said Iran had higher expectations.

Tehran hopes for implementation of the INSTEX, he reiterated.

Iran's oil minister arrived in the Russian capital, Moscow, on Monday for highlevel talks with the country's officials on the oil market and cooperation between the two countries in the area of energy.

The visit by Bijan Zangeneh comes at a time when the US has imposed sanctions on Iran's oil imports and the OPEC member and nonmember oil producers will decide on their policies for the year 2019 in a few weeks.

Russia as a permanent member of the United Nations Security Council has often taken different stances from those of Washington on various issues, including the Iran nuclear deal, Palestine, Syria, Afghanistan and Venezuela.

Moscow has also vetoed a number of antiIran resolutions with the latest one in February that was proposed by Britain.

Russia is one of the most influential players in the global oil and gas markets thanks to its large reservoirs and huge amount of energy exports. Many consider Moscow to be the leader of nonOPEC exporters with a major role in price control of the global markets.

Source: Islamic Republic News Agency IRNA


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