INSUBCONTINENT EXCLUSIVE:
TEHRAN - The head of the National Iranian Oil Company (NIOC) and Russias deputy energy minister have stressed the growth of bilateral
cooperation through joint oil projects.According to Shana, Hamid Bovard satisfied on Monday, February 17, with Roman Marshavin, Russias
deputy energy minister, to go over improving Iran-Russia partnership in the energy sector and the advancement of oil and gas fields.Bovard
stressed the significance of deepening ties with Russia and developing long-lasting relations, specifying that Irans huge oil industry uses
ample opportunities for cooperation
He kept in mind that joint projects could pave the way for continual and broadened cooperation between the two nations.Marshavin welcomed
more powerful ties with Iran, stating, We seek to expand cooperation with Iran and fully support all joint projects between the 2
countries.Iran and Russia have actually reinforced their energy incorporate recent years as part of broader efforts to counter Western
In 2022, the two countries signed a $40 billion memorandum of understanding, under which Russian energy giants vowed to invest in Iranian
oil and gas fields, consisting of the advancement of the Kish and North Pars gas fields
Russias state-owned Gazprom has actually likewise devoted to helping Iran in gas liquefaction and pipeline facilities projects.More just
recently, Tehran and Moscow have actually been dealing with new funding mechanisms to bypass U.S
dollar-based transactions, allowing smoother energy trade
In January, Irans oil minister announced that a portion of Irans oil exports to Russia is being settled in rubles and rials, showing both
countries push for de-dollarization
Furthermore, Iran has actually increased its crude oil swaps with Russia, particularly through the Caspian Sea, enabling Moscow to preserve
its export flows regardless of Western restrictions
Last year, Iran received numerous shipments of Russian crude for domestic refining and re-export by means of the Persian Gulf, a method that
has helped both countries browse sanctions while improving energy cooperation.EF/ MA
