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Russian Companies Interested In Working With Iran Regardless Of US Sanctions

Russian Companies Interested In Working With Iran Regardless Of US Sanctions

TEHRAN : Russian companies are interested in working with Iran on various projects in such sectors of the economy as energy, agriculture, automobile manufacturing and many others despite the punitive US sanctions against Tehran, Rustam Zhiganshin, Russia’s trade representative in Iran, told Sputnik.

In May 2018, the United States began the process of reimposing previously lifted sanctions on Tehran after withdrawing from the Joint Comprehensive Plan of Action (JCPOA), an agreement between Iran, China, France, Germany, Russia, the United Kingdom, the United States, Germany and the European Union requiring the Iranian authorities to scale back the country’s nuclear program and uranium reserves in return for sanctions relief.

“The Russian side remains interested in cooperating [with Iran] in various industries, such as oil, electricity, mining, metallurgy, agriculture, medicine, transportation and car manufacturing,” Zhiganshin said when asked whether Russian companies are interested in working with Iran in light of US sanctions.

The trade representative added that Moscow expected to see its companies and specialists working on the projects financed by Russian loans.

“Regarding Russian specialists, we are certainly counting on Russian companies and specialists being involved, as well as equipment,” Zhiganshin stated.

He also said that neither foreign nor Russian companies had been engaged in developing the recently discovered Namavaran oil field.

“We have also heard about the discovery of that [oil] field, but there have been no offers from the Iranian side to engage Russian and, as far as I know, foreign companies to develop the field. The trade mission does not have more detailed information on this project,” he said.

In late November, Russian Energy Minister Alexander Novak met with his Iranian counterpart, Reza Ardakanian, to discuss a $5 billion loan to Tehran for implementing infrastructure projects.