TEHRAN- Iranian Oil Minister Mohsen Paknejad stated that what was ultimately agreed upon in the 19th meeting of Iran-Russia Joint Economic Committee represents the achievement of moving from understanding to the implementation phase.

The minister made the remarks in a joint press conference with Sergey Tsivilyov, the energy minister of Russia, in Tehran on Wednesday, at the conclusion of the mentioned committee meeting, following the signing of new memorandums of understanding. They detailed the latest understandings and economic collaborations between Tehran and Moscow for the media.

Iran and Russia signed a cooperation document and four memorandums of understanding at the nineteenth session of their Joint Economic Committee in Tehran, underscoring efforts to deepen strategic ties across energy, infrastructure, standards and trade.

The agreements were finalized after two days of expert-level negotiations in Tehran, chaired by Iran’s Oil Minister Mohsen Paknejad and Russia’s Energy Minister Sergey Tsivilyov. Officials said the session focused on advancing previously negotiated initiatives from the stage of understanding to implementation.

Two memorandums were signed between Iran’s National Standards Organization and the Russian side, one covered research cooperation with Iran’s Petroleum Industry Research Center, and another involved Iran’s Ministry of Cooperatives, Labor and Social Welfare. A separate memorandum established a joint training calendar for standards experts from both countries.

Paknejad said the signed documents provided a framework for sustained follow-up, adding that the secretariat of the joint committee would coordinate closely with Russian counterparts to ensure execution.

Strategic framework and accelerating cooperation

Tsivilyov said a comprehensive strategic partnership agreement signed by the presidents of the two countries in October 2025 had elevated bilateral relations to a higher level of engagement.

He said the nineteenth session was concluding its deliberations and preparations were under way to hold the twentieth meeting in Russia at the highest possible level.

He added that over the past eleven months, implementation of joint projects had increased thirteen-fold compared with the previous year, reflecting closer coordination among working groups.

Paknejad described the current international environment as sensitive, saying closer economic coordination between Tehran and Moscow carried broader significance.

Oil and gas projects reach production stage

According to the two sides, energy cooperation remains central to the partnership between the two countries.

Paknejad said that under four contracts with Russian companies, seven Iranian oil fields are being jointly developed, with some projects already reaching the production phase.

He described the outcome as evidence that investments were delivering tangible results.

Tsivilyov also confirmed continued collaboration in peaceful nuclear energy, including construction of Units 2 and 3 at the Bushehr Nuclear Power Plant. A joint working group is studying the potential development of additional units, with conclusions expected within three months.

Gas supply, record output and import plans

Despite record domestic output, Iran is reviewing the possibility of importing Russian gas to address supply imbalances.

Paknejad said daily production from the South Pars field had reached 730 million cubic meters, marking a new high. However, he said seasonal and structural imbalances in the gas market persist.

“Despite these records, the gas imbalance still exists,” he said, adding that Tehran is examining and pursuing gas imports from Russia to secure domestic needs.

He said discussions on Russian gas exports to Iran were largely complete, with only a small number of clauses remaining before finalization.

Rail connectivity and food security

Beyond hydrocarbons, transport and agriculture featured prominently in the talks.

Tsivilyov said documentation for the Rasht–Astara railway project was being finalized for signing during a railway industry event in Saint Petersburg in April. Implementation would begin immediately after signing.

The railway link is expected to facilitate agricultural exports and imports, including large-scale Russian wheat shipments to Iran, under a dedicated food security cooperation framework.

Standards harmonization to ease trade

During the two countries’ nineteenth joint economic committee meeting, efforts to streamline trade through technical alignment were also emphasized.

Farzaneh Ansari, head of Iran’s National Standards Organization, called for harmonizing national standards lists, particularly in trade-related sectors, to accelerate exchanges and reduce technical barriers.

She urged deeper cooperation in international and regional technical committees and expanded collaboration in metrology and accreditation, including inter-laboratory comparisons in fields such as mass, temperature and pressure measurement.

Anton Shalaev, head of Russia’s Federal Agency on Technical Regulation and Metrology, said Moscow was prepared to share developed standards with Iran and to draft a new roadmap for cooperation in standardization in the coming years.

Officials from both sides described the nineteenth session as part of a long-term institutional process aimed at consolidating economic ties.

The upcoming twentieth meeting, to be held in Russia, is expected to further expand joint projects and deepen strategic coordination across energy and trade sectors.

Meanwhile, during a meeting between Qadir Qiafeh, deputy head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), and Leonid Lozhechko, chairman of the Russian-Iranian Business Council at the Chamber of Commerce and Industry of the Russian Federation, in Tehran on Monday, the two sides called for the removal of customs restrictions and faster trade procedures, setting a $10 billion target for bilateral trade over the next three years.

Qiafeh said Russia represents a large market and Iran has significant export capacity, but bilateral trade has not matched the economic weight of the two countries since the collapse of the Soviet Union.

He said trade relations have improved in recent years and that the Eurasian free trade agreement resulted in about $4 billion in goods exchange in the first nine months of the Iranian year 1404 (March-December, 2025). However, he added that current trade volumes remain well below potential estimates of $10 billion to $30 billion.

He cited implementation challenges under the Eurasian agreement, including application of preferential tariffs, limited familiarity among businesses with tariff schedules and delays in information exchange. Customs procedures and slow responses by relevant agencies, particularly for perishable goods, also pose problems, he said.

Logistical constraints, including limited regular shipping services and underutilization of the International North–South Transit Corridor (INSTC), have increased transport costs and delivery times, Qiafeh said, adding that full completion of the corridor would expand transit capacity and reduce shipping time for both Iranian and Russian exports.

He also pointed to financial constraints, noting that both countries face limited access to international financial systems and that settlements in national currencies remain incomplete. Exchange rate volatility in both markets has raised costs for traders, he said.

Talks to link Iran’s Shetab banking network with Russia’s Mir payment system have been under discussion for more than six years and have been piloted, but full-scale implementation has yet to materialize, Qiafeh said.

Lozhechko said 89 percent of bilateral trade is conducted under direct contracts in national currencies, but a significant share of transactions still passes through third countries, increasing costs.

He said Russia is seeking to reduce the role of intermediaries and expand direct financial channels, including through the opening of a Russian bank branch in Iran. VTB Bank has allocated $2 billion to provide financial services to Iranian traders, he added.

In the transport sector, Lozhechko said 28 vessels have been added since last year to facilitate cargo shipments across the Caspian Sea, with plans to add 30 more by 2035. Some lower-capacity vessels have been replaced with ships capable of carrying up to 600 forty-foot containers.

He also outlined rail plans via the western Astara route to deliver cargo to Moscow within five days, as well as eastern routes coordinated with Kazakhstan and Turkmenistan to move goods to Iran’s Incheh Borun border. Agreements have also been signed with logistics operators in the United Arab Emirates, Iran and Russia to move containers from Bandar Abbas to Moscow within two weeks.

Both sides said customs procedures remain a major obstacle, especially for food products. Goods transiting through Azerbaijan can face multiple border checks, while errors in valuation forms can cause additional delays and affect product quality. Russian officials said training seminars for Iranian traders are planned to address documentation issues.

Qiafeh said chambers of commerce in both countries should play a more active role in facilitating information flows, joint investment and technology transfer in sectors including oil, gas, petrochemicals, mining and logistics.

He said achieving $10 billion in bilateral trade within three years is attainable with stronger private sector support and more effective implementation of existing agreements.

EF/MA