07:20 GMT10 July 2020
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    Russian President Vladimir Putin favors expanding cooperation with Iran in the oil and gas spheres.

    MOSCOW (Sputnik) — Russia sees potential for expanding cooperation with Iran in the oil and gas sphere, Russian President Vladimir Putin said after a meeting with Iranian President Hassan Rouhani on Tuesday.

    "We see a good potential for expanding cooperation in the oil and gas sector. Leading Russian companies have reached a number of important agreements on the development of large hydrocarbon fields in Iran, our states cooperate within the framework of the Gas Exporting Countries Forum, coordinate efforts to stabilize global oil markets," Putin said.

    Moreover, Russia and Iran will continue cooperation with an aim of stabilizing the global energy market and ensuring conditions for stable economic growth, a joint statement after the talks of the countries’ presidents said Tuesday.

    "[Russian President Vladimir] Putin and [Iranian President Hassan] Rouhani welcomed the agreements of the OPEC [Organization of the Petroleum Exporting Countries] member states and other oil producing countries which favours balancing supply and demand in the oil market in an acceptable price range, as well as maintaining the investment attractiveness of the oil industry. Russia and Iran will continue to cooperate in this area in order to stabilize the global energy market and ensure sustainable economic growth," the statement read.


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    oil and gas, expansion, cooperation, Vladimir Putin, Iran, Russia
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