More Stories
During his visit to Moscow for the 18th session of the Iran-Russia Joint Economic Commission, Paknejad said on Thursday that the deals form part of broader efforts to expand strategic cooperation across sectors, including energy, finance, and agriculture.
“The potential for trade between Iran and Russia is far greater than the current $5 billion level,” he said, adding that additional memoranda of understanding are under negotiation in the oil and gas sectors. “Expert groups are actively working to finalize these talks and turn them into binding contracts.”
The oil minister also announced plans for a new nuclear power plant to be constructed in the country, financed by a credit line from Moscow.
Paknejad also said that discussions are underway on importing natural gas from Russia in an initial phase, followed by gas swaps and transit to other countries. “This is one of the key areas of interest for both sides,” he said. “We have had detailed negotiations, and only a few items remain before finalizing the first-phase import volumes.”
The minister added that the latest agreements follow the ratification of a long-term strategic cooperation treaty between Tehran and Moscow. “This is the first joint commission meeting since the treaty’s approval last week, and it opens new pathways for economic collaboration,” he said.
Separately, Saeed Tavakkoli, managing director of Iran’s National Gas Company, said progress has been made on an earlier agreement with Russia to transfer gas to northern Iran, where domestic production is limited. “This plan will help meet energy needs in northern provinces and contribute to Iran’s goal of becoming a regional gas hub,” he said.
Tavakkoli added that while further technical assessments are needed, current negotiations have been effective, and the project aligns with the targets of Iran’s seventh development plan.
The agreements come as Western sanction -- isolating Russia over Ukraine and Iran for its nuclear program, regional role, and human rights -- have spurred a rapid deepening of their ties.
Their shared predicament, alongside a common interest in countering US influence, underpins their growing partnership. Both nations are also exploring ways to bypass these restrictions, including using national currencies and alternative financial channels for trade.
A senior Iranian military official said Friday that the United States is keeping its economy afloat through oil theft, as diplomatic efforts between Tehran and Washington continue.
“America is bankrupt and has stayed afloat through oil theft,” Brigadier General Mohammad Reza Naghdi, the deputy coordinator of Iran’s Islamic Revolutionary Guard Corps (IRGC), said at a public event, according to the state-affiliated ISNA news agency.
Naghdi added that US efforts to destabilize Iran through sanctions and internal unrest had failed, adding, “They wanted Iranians to protest over bread, but today it is the Americans who are facing economic collapse.”
Iranian Foreign Minister Abbas Araghchi will travel to Muscat on Friday evening at the head of a diplomatic and technical delegation for indirect talks with the United States, the Iranian Foreign Ministry said.
“Based on the schedule arranged by our Omani hosts and agreed upon by Iran and the United States, expert-level meetings and indirect discussions between our foreign minister and the US president’s special envoy will be held on Saturday,” Foreign Ministry spokesman Esmaeil Baghaei told reporters, according to ILNA.
Baghaei said the Iranian side would proceed “step by step, based on the behavior of the other party,” and that “no effort will be spared to secure the legitimate rights and interests of the Iranian people.”
He added that progress in negotiations depends on the other side showing “goodwill, seriousness, and realism.”
A former Iranian ambassador said Friday that Iran has made a clear moral commitment not to pursue nuclear arms, as indirect talks with the United States continue.
“We have pledged to humanity that we will not seek nuclear weapons and will distance ourselves from building a bomb,” said Hossein Noshabadi, Iran’s former envoy to Oman, in an interview with ILNA news agency.
Noshabadi also cautioned against expectations of a rapid breakthrough. “We should not expect to reach an early agreement,” he said, though he noted the talks have been “constructive and positive.”
The former diplomat called for recognition of Iran’s peaceful nuclear rights and urged the US to abandon what he described as “tension-provoking behavior.” He said any final deal must respect Iran’s sovereignty and be free of maximum pressure tactics.
