Tag Archives | Russia

Iran, Russia, Turkey Sign $7bn Drilling Deal

Turkey’s Unit International announced it has signed a $7 billion agreement with Iran’s Ghadir Investment Holding and Russia’s state-owned Zarubezhneft to drill for oil and natural gas in Iran. In a statement, Unit said the three companies had invested a total of $7 billion for the drilling, which would take place at three oil fields […]

DNO Submits Plan for Changouleh Oil Field

The National Iranian Oil Company (NIOC) has received a proposal from Norway’s DNO oil and gas operator for the development of Changouleh Oil Field, a major one in western parts of the country. Gholam-Reza Manouchehri, the deputy for development and engineering affairs of NIOC confirmed that DNO’s proposed plan for the development of Changuleh oil […]

GIC Signs Agreement with Unit International, Zarubezhneft

Iran’s Ghadir Investment Company has signed a trilateral agreement with Russia’s Zarubezhneft and Turkish energy company Unit International to finance oil and gas development projects. Signed in Moscow on Monday, the deal concerns development of oil and gas projects in or outside of Iran. Based on the agreement, the three companies will form joint ventures […]

Over 150,000 Iranians Expected to Visit Russia in 2017

Ali Mohammadi, the Iranian consul general in Russia’s Astrakhan region, said over 150,000 Iranian tourists are expected to visit Russia during the current year. Visa-free travel for tour groups, established by Iran and Russia, will lead to the growth of tourist inflow, Mohammadi told the TASS news agency “Last year, more than 120,000 Iranian tourists […]

Russia: Visa-Free Travel for Iranians Possible Soon

Iranian citizens could start traveling visa free to Russia in two or three months, Russia’s ambassador to Tehran said recently. Speaking on the sidelines of a ceremony in Tehran, held to sign a contract between Iran and Russia on the joint production of train cars, Levan Jagarian said based on an agreement with Iran’s Foreign […]

Trump’s Options on the Nuclear Deal with Iran

By Seyed Hossein Mousavian for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. While President Donald Trump’s State Department has twice now certified Iranian compliance with the July 2015 nuclear deal, there are indications that Trump is intent on scuttling his predecessor’s signature foreign policy achievement. However, […]

Russia to Invest $3bn in Iran’s Railroad Industry

The Industrial Development & Renovation Organization of Iran (IDRO) and Russia’s Transmashholding have signed a contract to manufacture railway wagons. The contract was sealed Monday with the attendance of Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh and Deputy Foreign Minister for Legal and International Affairs Abbas Araqchi. Based on the agreement, the two […]

Iran’s Economy a ‘Masterpiece of Structural Ambiguity’

By Ali Dadpay for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The economy dominated Iran’s recent presidential election. Hassan Rouhani, the incumbent, argued that integration into the global economy is the only path to prosperity and job creation, while his rivals accused his administration of […]

Gazprom Neft signs MOU with Iran’s OIEC

Russia’s Gazprom Neft has signed a Memorandum of Understanding with Iran’s Oil Industries’ Engineering & Construction (OIEC) confirming both companies’ mutual interest in combining forces in the preliminary assessment and investigation of the geological potential of oil fields located in the Islamic Republic of Iran. The document was signed by First Deputy CEO, Gazprom Neft, Vadim Yakovlev and OIEC CEO Behzad Mohammadi. The parties have agreed […]

Sanctions an “Opportunity for Iran-Russia Partnership”

Secretary of Iran’s Expediency Council Mohsen Rezaei said Tehran and Moscow, both facing Western sanctions, could use the embargoes as an opportunity to reap economic benefits. Iran and Russia, both hit by sanctions, can turn the snactions into a “historic opportunity” in cooperation with each other and use the common markets in the region for […]