Iran, Ukraine Agree to Create Joint Oil, Gas Company - Source

Tehran and Kiev discussed ways to strengthen bilateral cooperation in the oil and gas sector, including creating a joint oil and gas company during the visit of the Ukrainian foreign minister to Iran, a source in the Iranian Petroleum Ministry told Sputnik on Tuesday.

MOSCOW (Sputnik) – Ukrainian Foreign Minister Pavlo Klimkin visited Iran on May 29-30, where he met with his Iranian counterpart Mohammad Javad Zarif and President Hassan Rouhani, as well as other officials.

"Tehran and Kiev discussed yesterday during the visit of the Ukrainian foreign minister and his delegation and his meeting with Iranian Deputy Oil Minister Amir Hossein Zamani Nia ways to strengthen cooperation in the oil and gas sector," the source said.

According to the source, the sides discussed ways to transport gas to Ukraine, cooperation in storing gas, as well as creation of a joint company specializing in in the field of oil and gas industry.

"The countries have created a joint committee to discuss these issues in the nearest future, to reach consensus on issues brought up during the Ukrainian delegation’s visit," the source added.

According to the Ukrainian Foreign Ministry, Iran and Ukraine agreed to promote bilateral cooperation in all areas following the visit.

Ukraine introduced sanctions against Iran in 2007, in accordance with the UN Security Council resolution 1747, which imposed an arms embargo and froze a number of Iranian assets abroad. In early March, Ukraine and Iran signed a memorandum on enhancing economic cooperation between the two countries. The following month, Kiev lifted its sanctions against Tehran.