Iran ready to attract Russian capital in oil, gas projects

Iranian Oil Minister announced the readiness of the Iranian administration to attract the capital of Russians in the oil and gas sector.

Javad Owji, in a meeting with 100 economic activists of the Russian Federation, which was held on the sidelines of the second Caspian Economic Conference, discussed the existing agreements worth $40 billion between the two countries.

“The Iranian administration is ready for the investment of Russian economic activists in the oil and gas sector, participation in fields, swapping of oil products, and exporting petrochemical products,” he said.

In this meeting, Mohammad Mokhber, the first vice president, considered the creation of free zones as one of the ways to neutralize the sanctions, and said, "We should not be satisfied with the current volume of exchanges in the Astrakhan Free Zone, but a comprehensive plan should be designed and the development of economic cooperation should be provided."

 “We must use the existing capacities such as the Caspian Economic Conference, the Shanghai Cooperation Organization and the Eurasian Union in such a way that the people of the countries in the region benefit from these opportunities," he added.

The first vice president stated, “Iran and Russia's economic operators should consider their ceiling much higher than the current level and by identifying mutual capacities and advantages, as well as the exchange of economic and trade delegations, improve the level of relations between them and the volume of trade exchanges.”

News Code 194410

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