Iran, Russia Stress Continuing Oil Cooperation

During the meting in the Russian capital on Monday, Zangeneh and Novak discussed the latest developments in the Russian and the international oil markets.

The two sides also discussed cooperation within the framework of the Organization of the Petroleum Exporting Countries (OPEC).

Novak, for his part, pointed to the fact that relations between Iran and Russia would be strengthened, and said Moscow is following up the policies set by the leaders of both countries on developing cooperation.

In relevant remarks earlier on Monday, Zangeneh said his ongoing visit to Russia is aimed at holding talks on broadening of mutual cooperation in the field of energy and discussing the future of the global oil market.

"Russia is one of the major producers of oil in the world, and we need to talk with our Russian friends on the issue," Zangeneh told reporters upon his arrival in Moscow yesterday.

Zangeneh and Novak will also discuss development of Iran's oilfields by the Russian companies.

The Iranian oil minister pointed to the unilateral oil sanctions imposed by Washington on Iran and Venezuela, and said that some part of the talks with Russian officials would be focused on the problems caused by oil producers, including Libya and Nigeria.

Iran's oil sector was sanctioned by the US after President Donald Trump unilaterally withdrew from the 2015 Iran nuclear deal. Major Iranian crude buyers, however, received waivers from sanctions. Reports suggest that Washington may extend the exemption for China, India, Turkey and South Korea, the major Iranian oil importers, for another six months.

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