Russian Deputy Prime Minister Alexander Novak. Undated

Russian Deputy Prime Minister Alexander Novak

Russian Deputy PM Due To Visit Iran On Tuesday

Monday, 05/15/2023

Russian Deputy Prime Minister Alexander Novak will visit the Islamic Republic of Iran on May 16, Iranian local media reported on Sunday.

Novak is expected to meet with Iranian Oil Minister Javad Owji and Central Bank Governor Mohammad-Reza Farzin during his two-day stay in Tehran.

He will also attend the 27th International Oil, Gas and Petrochemical Exhibition opening in Tehran on May 17.

There were no details provided about the Russian delegation or topics of the upcoming agenda.

Iranian Deputy Oil Minister Ahmad Asadzadeh said on April 25 that Novak and Russian Central Bank Governor Elvira Nabiullina will visit Iran in May for trade and economic agreements.

As tension between the United States and Iran have increased since last year, Tehran and Moscow have been trying to boost bilateral relations.

As nuclear talks broke down with Iran last September and Russia's invasion of Ukraine dragged on, the United States and Europe imposed more sanctions on Iranian and Russian entities and the two pariah states expanded their ties.

In July, the National Iranian Oil Company (NIOC) and Russian gas company Gazprom signed a memorandum of understanding (MoU) worth $40 billion. NIOC and Gazprom CEOs signed the deal on the day Russian President Vladimir Putin arrived in Tehran for a summit with his Iranian and Turkish counterparts.

There were many projects covered by the MoU, including expanding the Kish and North Pars gas fields, improving the South Pars field, developing six new oilfields, increasing gas and product swaps, completing various liquefied natural gas (LNG) projects, and building gas export pipelines, to name a few.

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