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Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Iran-Russia annual trade to reach $40 billion in 1.5 years

  • By Al Mayadeen English
  • Source: Agencies
  • 7 Jun 2022 22:03
  • 1 Shares
2 Min Read

Russia and Iran, both countries harshly sanctioned by Washington, are cooperating together on trade and will soon work together in the banking sector.

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  • Iranian Petroleum Minister Javad Owji
    Iranian Petroleum Minister Javad Owji

The volume of annual trade between Iran and Russia will hit $40 billion within the next 18 months, Iranian Petroleum Minister Javad Owji said Tuesday.

The remarks were made during Russia's National Day, with Owji revealing that Iran has projects agreed upon with Russia and China in the banking sector.

The banking projects due to be implemented by Russia, China, and Iran, Owji stressed, will put an end to the dominance of the USD in the near future.

Iran and Russia are two main suppliers of oil and gas in the world, he noted. "Playing with these two countries would be a major threat to the world energy security."

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Europe's reliance on energy is not a game, and it cannot be easily compensated, Owji underlined as the European markets struggle due to the absence of Russian oil from the energy market, which was caused by the western sanctions on Moscow.

"The game has been experienced before in other countries."

The United States is trying to convince its allies in the Gulf to pump out more oil to compensate for the lack of Russian oil in the market.

A group of six Democrat US members of Congress sent earlier today a letter to President Joe Biden urging him to secure commitments from Saudi Arabia to stabilize the situation in the global energy markets.

The Biden administration has long been requesting that the Saudi government increase oil production in order to lower gasoline prices ahead of the midterm elections and to push for a slew of sanctions against Russian oil in the midst of the ongoing war in Ukraine. However, the Saudis have not shown any interest in it thus far.

  • United States
  • OPEC
  • Europe
  • Russia
  • Sanctions on Russia
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