Moscow: Referring to the current annual trade between Iran and Russia of about five billion dollars, Oil Minister Mohsen Paknejad stated that the capacity of trade exchanges between Tehran and Moscow far exceeds the current figure. The Oil Minister emphasized the vast potential for cooperation between the two nations across various sectors, including energy, finance, banking, agriculture, and trade in oil and gas products. He expressed confidence that leveraging these opportunities could overcome existing limitations.

According to Islamic Republic News Agency, Oil Minister Mohsen Paknejad is currently in Moscow to participate in the 18th meeting of the Iran-Russia joint economic commission. Leading a delegation, Paknejad arrived in Moscow on Thursday to engage in discussions aimed at enhancing bilateral cooperation across multiple economic sectors.

The meeting is being co-chaired by Paknejad and Russian Minister of Energy Sergei Tsivilev, focusing on strengthening economic ties and exploring new avenues for collaboration.