Iran-Russia economic ties to be expanded: Russian energy min.

October 22, 2015

TEHRAN- Russian Energy Minister Alexander Novak said his country’s economic and trade ties with Iran will be expanded.

He made the statement in a meeting with Iranian Oil Minister Bijan Namdar Zanganeh yesterday in Tehran, according to the Shana News Agency.

Novak said many large Russian companies active in the fields such as oil, gas, transportation and telecommunication are accompanying him in his visit to Iran.

He further highlighted historic relations between Russia and Iran and expressed hope that his meeting with the Iranian oil minister will play effective role in the expansion of economic ties between the two countries.

Zanganeh, for his part, said the negotiations between Iranian and Russian officials have been always fruitful and expressed hope that his meeting with Novak will lead to the expansion of bilateral ties especially in the oil sector.

He declared Iran’s willingness to expand ties with Russia and said Iran and Russia both have huge resources of oil and gas; therefore, they can boost their bilateral ties in these sectors.

“Given that [the West-led] sanctions are going to be removed against Iran, the country’s oil and gas sectors will experience a new time of development”, the minister highlighted.

Global energy giants, which have been waiting for return to the Iranian market, now have a real chance to restore their activity in the Islamic Republic.