Russia-Iran Commission on Economic Cooperation scheduled in November

By Al Mayadeen English
Source: Agencies
13 Sep 2022 21:00

Ties between the two countries are solidifying in the face of growing tensions with the West.

Iranian Energy Minister Reza Ardakanian and Russian counterpart Alexander Novak met in Moscow on September 3 to discuss accelerating the implementation of the two countries’ joint projects.

The next meeting of the Russian-Iranian commission on trade and economic cooperation will be held in November, according to a text in Kremlin's materials on the upcoming Shanghai Cooperation Organization (SCO) summit in Samarkand.

"There is a permanent Russian-Iranian commission on trade and economic cooperation (Russian co-chairman - Alexander Novak). Its next meeting is scheduled to be held in November this year," the materials said.

The trade between the two countries in 2021 increased by 81.4% to $4.1 billion, and surpassed $3 billion for the period of January-August, the text read.

Earlier in the day, Kremlin aide Yury Ushakov said that Iran would participate in the 2023 SCO summit in India as a full member of the organization.

In recent years, Russia and Iran have made considerable strides in strengthening their diplomatic and financial ties.

The two countries have had close and expanding relations, and the anti-Western positions of both governments created aligned interests on both sides.

The start of the war in Ukraine and the imposition of severe Western sanctions against Moscow has brought both countries closer in their anti-Western campaign.

Having joined the MIR payment system, switched to trade with national currencies, purchased goods and services, and increased joint industrial cooperation, Russia has benefited from its investing in building ties with its Iranian counterpart.

Likewise, Iran profited from Russia's contribution to the revival of the JCPOA, as well as profitable investments made in the oil sector, and numerous other joint industrial and economic projects.

Iran is expected to partake in 2023 SCO Summit as a full member.

"Memorandums will be signed on the obligations of Iran in order to obtain membership in the association. This means that, after fulfilling these obligations, Iran will participate as a full member at the next summit," Kremlin aide Yury Ushakov told reporters on Tuesday.