Iran, Russia Plan 70-Project Cooperation Deal

Iran and Russia are to sign a cooperation deal on more than 70 industrial projects, Russian media reports said on Saturday.

Russian Energy Minister Alexander Novak said the plans were decided in a meeting with Iran’s Minister of Communications and Information Technology Mahmoud Vaezi, the Moscow Times reported.

Tehran-Moscow relations have improved dramatically in recent years, with Russian President Vladimir Putin visiting Tehran in November last year, Novak said.

“During this time, our trade turnover has increased by 70 percent, and we have agreed to create the necessary legal framework to aid the growing relationships between entrepreneurs in our two countries,” he said.

The ministers also agreed on a further 13 treaties dealing with trade, customs clearance and investment.

Moscow also agreed to provide Tehran with export credit worth $2.4 billion earlier this month.

(Source: Tasnim, under Creative Commons licence)

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