07:47 GMT24 November 2020
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    MOSCOW (Sputnik) – The Iranian parliament voted to allow the government to apply for a $5 billion loan from Russia, local media reported Monday.

    The lawmakers were discussing the next year’s budget bill on Monday, according to the Mehr news agency.

    In this photo released by official website of the office of the Iranian Presidency, President Hassan Rouhani, centre with white turban, and other dignitaries attend the inauguration of Fateh, Conqueror in Persian, Iranian made a semi-heavy submarine in the southern port of Bandar Abbas, Iran, Sunday, Feb. 17, 2019.
    © AP Photo / Office of the Iranian Presidency
    READ MORE: US Losing Global Leadership Role to Russia, China and Iran, German Media Claims

    The loan is set to be spent on owning capital assets in infrastructure and production fields in accordance with the budget law, putting new energy, nuclear, power, railways, highways, dams, irrigation networks and water transportation projects as priority ones, the media said.

    Last year, Iran's parliament has rejected budget submitted by President Hassan Rouhani over concerns the proposed spending cuts could stoke public uproar and anxiety.


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