TEHRAN, September 10 (RIA Novosti) – Russian companies are interested in participating in bilateral energy projects in Iran, within the framework of the Memorandum of Understanding, a statement released by the Russian Ministry of Energy Wednesday said.
“The signing of the memorandum creates more favorable conditions for the participation of Russian companies in the implementation of projects in the oil and hydrocarbon production and servicing sector,” the statement says.
In early August, Moscow and Tehran signed a five-year Memorandum of Understanding aimed at boosting bilateral economic cooperation.
The agreement also envisions Russia taking an active role in the construction and overhaul of Iran’s energy production facilities and electric grids.
The memorandum followed media reports claiming the White House had sought to derail the Russian-Iranian agreement on crude deliveries with threats of tougher sanctions against both countries.
On Tuesday, after meeting with his Iranian counterpart Hamid Chitchian in Tehran, Russian Energy Minister Alexander Novak said that Western sanctions against Russia are unlikely to affect Moscow’s plan to boost energy cooperation with Iran.