WANA (Feb 18) – During the 19th Session of the Joint Economic Cooperation Commission between Islamic Republic of Iran and Russian Federation, the two sides signed one cooperation agreement and four memoranda of understanding (MoUs), marking a new step toward deepening bilateral economic ties.

 

According to official sources, two of the MoUs were concluded between Iran’s National Standards Organization and its Russian counterpart, focusing on standardization and technical cooperation. A third MoU was signed in the field of research and industrial studies with Iran’s Research Institute of Petroleum Industry, while the fourth agreement addresses cooperation related to labor, employment, and social welfare. Together, these documents aim to facilitate institutional coordination and expand practical cooperation between Tehran and Moscow.

 

On the sidelines of the meeting, Mohsen Paknejad, Iran’s Minister of Oil and head of the Iranian side of the commission, described the expansion of economic interaction with Russia as strategically meaningful under current international conditions. He emphasized that the implementation of previously agreed frameworks and their transition into the execution phase represent key achievements of this round of talks.

 

Paknejad also expressed appreciation for the active engagement of the Russian side, particularly Sergey Tsivilev, noting that sustained follow-up efforts by both parties have helped turn earlier understandings into concrete outcomes.

 

For his part, Russia’s Minister of Energy stated that the comprehensive agreement signed by the presidents of the two countries, along with the results of recent expert-level discussions, has paved the way for new cooperation protocols and elevated Iran–Russia relations to a more advanced stage. He added that intensive technical negotiations over the past two days have produced tangible progress in energy, trade, and industrial cooperation.

 

Official customs data indicate that bilateral trade between Iran and Russia exceeded USD 2 billion over the first ten months of the current year, while non-oil trade alone surpassed USD 2.3 billion, reflecting steady growth in economic exchanges.

Construction of the second and third units of the Bushehr nuclear power plant / Source: IAEO

Construction of the second and third units of the Bushehr nuclear power plant / Source: IAEO

Russia Signals Continued Nuclear and Energy Cooperation with Iran

Senior officials from Iran and Russia announced the expansion of cooperation in the energy sector, particularly in nuclear power development and oil and gas projects, following a meeting of the two countries’ Joint Economic Cooperation Commission — a gathering seen as underscoring efforts to deepen strategic ties amid complex global economic conditions.

 

In this context, Sergey Tsivilyov, Russia’s Minister of Energy, said Moscow will continue “serious and sustained” cooperation with Iran on nuclear projects, adding that Units 2 and 3 of the Bushehr Nuclear Power Plant are currently under construction. He noted that equipment for these units will be transferred to Iran after completion in Russia, and that plans to build additional units and small modular nuclear plants are also under consideration.

 

Tsivilyov also announced the formation of a working group within the next three months to follow up on major peaceful nuclear energy projects, saying joint projects over the past 11 months have been “several times more successful” than the previous year. He described the trend as a sign of strengthening strategic cooperation and highlighted collaboration in areas such as transport, food security, and grain exports.

 

On fossil energy, Mohsen Paknejad, Iran’s Oil Minister, said Tehran is still pursuing natural gas imports from Russia to address domestic imbalances. Referring to a record daily production of 730 million cubic meters from the South Pars shared field, he said that despite increased output, the gap between supply and demand persists and imports could help ensure stable energy supply.

 

Paknejad also said the groundwork has been laid for signing a strategic partnership treaty between the two countries, emphasizing that cooperation in investment in oil and gas fields, transport, finance, and banking offers broad potential to expand economic ties.

 

Officials from both sides described the meeting as a step forward in turning agreements into implementation and expressed hope that joint cooperation in energy and infrastructure will boost electricity generation, strengthen energy security, and support economic growth in the coming years.