Repeated statements from high officials in Russia and Iran that both countries are “determined to strengthen cooperation in all sectors” could strengthen the position of both countries in global oil markets
The North and South Azadegan fields have become a core part of Iran’s strategy to ramp up crude oil production, and the country recently presented a $7 billion plan to develop this double-field oil site
Iran and Russia laid the groundwork for a 20-year cooperation deal at the beginning of this year, a deal that is set to foment business in the hydrocarbons and nuclear power sectors
Iran s petrochemical sector has been a legal grey area in various sanctions regimes imposed against the nation during the last couple of decades, and now, and now Tehran has invited Russia to play a bigger role in this crucial sector