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Iran, Russia ink energy cooperation MoU

Iran, Russia ink energy cooperation MoU

Mubasher: Iran and Russia inked a provisional agreement over cooperation in the energy industry, Reuters reported, citing SHANA news outlet.

The memorandum of understanding (MoU) includes oil, gas, petrochemicals and nuclear energy, Reuters said, citing the oil ministry’s news agency.

The initial agreement was signed in Tehran by Iranian deputy oil minister Amir Hossein Zamaninia and his Russian counterpart.

In the same vein, Iranian oil minister is scheduled to meet his Russian counterpart in Iran later on Monday.

This promises a resolution to a month-long deadlock over the date of a policy meeting between the Organization of the Petroleum Exporting Countries (OPEC) and its allies.

OPEC and non-affiliated partners, including Russia have been mulling since last month to hold their policy gathering in Vienna on 3 and 4 July, rather than 25 and 26 June.

While Russian Energy Minister Alexander Novak prefers to delay the meeting to avoid clashing with the Group of 20 (G20) summit in Japan, Iranian Minister Bijan Zanganeh favours to keep the original date unchanged, sources told Reuters.