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Sanctions no impediment to Russia-Iran cooperation - ministers

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International sanctions against Tehran will not affect Russian-Iranian cooperation, the countries' energy ministers said on Wednesday.

International sanctions against Tehran will not affect Russian-Iranian cooperation, the countries' energy ministers said on Wednesday.

On June 9, the UN Security Council passed Resolution 1929 imposing a fourth set of sanctions on Iran over its nuclear program, including tougher financial controls and an expanded arms embargo.

"Sanctions will not be a hindrance," Russian Energy Minister Sergei Shmatko said after talks with visiting Iranian Petroleum Minister Masud Mir-Kazemi.

"Sanctions are not affecting Iran's economic and industrial development," Mir-Kazemi said echoing Schmatko's remarks.

"Truly independent countries cooperate with Iran," he added.

Shmatko said Russian companies were ready to supply oil products to Iran.

The two parties adopted a joint statement approving a "roadmap" for oil and gas projects, agreed to study the possibility of establishing a joint bank to finance those projects and work out mechanisms to use national currencies.

Russian state oil company Zarubezhneft said earlier on Wednesday it was interested in signing a geological exploration contract with Iran. CEO Nikolai Brunich said a consortium could bet set up to include Zarubezhneft, the state oil company of Iran and another Russian oil company.

Iranian President Mahmoud Ahmadinejad said in early July Tehran was ready to resume dialogue with the Iran Six of international mediators, but would put off talks until the end of August in order to "punish" the West for imposing fresh sanctions.

He also said new sanctions would not affect the country's nuclear program.

 

MOSCOW, July 14 (RIA Novosti)

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