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Seven steps to boost relationship between Iran and Russia

Staff writer |
Iranian Minister of Communications and Information Technology Mahmoud Vaezi and Russian Energy Minister Alexander Novak inked a multi-functional Memorandum of Understanding (MoU) to further develop trade.




Vaezi and Novak signed the MoU in Tehran on Thursday to increase trade cooperation between the two neighboring countries.

The MoU has been regulated in 7 chapters, the first part of which includes oil and gas cooperation between the two countries whose details were discussed during a meeting between the Russian delegation and the Iranian oil minister.

The second chapter touches mutual cooperation in electricity and water fields, including linking Iran's national grid to Russia through Azerbaijan and Russia, as well as building thermal and hydro power plants.

The third chapter has concentrated on cooperations in the transportation sector with its main focus on railways.

In the fourth chapter cooperation in communication and IT has come under attention, where the two sides agreed to implement different plans in this regard.

The fifth chapter studies major banking and monetary issues to create jobs and facilitate trade between the two countries.

Iran's membership in Eurasia Bank and setting up a joint bank with Russia is the focus of the chapter 6.

The last chapter underlines that the Russian companies should propose partnership in the aforementioned plans, and mutual cooperation in other fields of interest will also increase.


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