Latest news with #18thJointEconomicCooperationCommission
American Military News
01-05-2025
- Business
- American Military News
Russia funding new Iranian nuclear plants, Iranian official says
An Iranian official confirmed on Friday that Iran and Russia are partnering on the construction of a new nuclear plant in Iran, which will be funded 'using Moscow's credit line.' According to The Algemeiner, Iranian Oil Minister Mohsen Paknejad met with Russian Minister of Energy Sergei Tsivilev in Moscow on Friday for the 18th Joint Economic Cooperation Commission. The outlet reported that Paknejad confirmed that the two countries were strengthening cooperation in 'peaceful' nuclear energy and would be building a new nuclear plant in Iran with Russian funding. Paknejad announced, 'Iran and Russia will continue their cooperation in the peaceful use of nuclear energy and the construction of new nuclear energy facilities and the completion of phases two and three of the Bushehr power plant using Moscow's credit line.' The Algemeiner cited Iranian state media reports, which noted that Iran and Russia also agreed to a transfer deal of 55 billion cubic meters of gas. 'Multilateral cooperation between Iran and Russia through membership in the Shanghai Cooperation Organization, BRICS, the Gas Exporting Countries Forum, and OPEC+ has led to the provision of common interests, peace, stability, and international security, and I am confident that this cooperation will deepen,' Paknejad stated. As part of the agreement between Russia and Iran, Paknejad said Iran is planning to sign a $4 billion deal to construct seven oil fields in Iran by partnering with Russian companies. READ MORE: Trump admin warns of 'serious consequences' if Russia builds naval base in Sudan The Algemeiner also reported that Russian President Vladimir Putin signed a law last Monday that officially ratified a 20-year strategic partnership agreement with Iran. The outlet noted that Putin and Iranian President Masoud Pezeshkian approved the Strategic Cooperation Treaty in January to increase collaboration on military drills, joint officer training, security services, and warship port visits. According to The Jerusalem Post, Paknejad's comments regarding Russia and Iran's partnership on nuclear plants and other energy projects came as U.S. and Iranian officials met in Oman on Saturday for negotiations surrounding Iran's nuclear program. The outlet reported that Steve Witkoff, President Donald Trump's envoy to the Middle East, and Iranian Foreign Minister Abbas Araqchi held the third round of nuclear talks after previous negotiations were described as constructive. 'The Iran situation is coming out very well,' Trump told reporters on Air Force One over the weekend. 'We've had a lot of talks with them and I think we're going to have a deal. I'd much rather have a deal than the other alternative. That would be good for humanity.' Trump added, 'There are some people that want to make a different kind of a deal — a much nastier deal — and I don't want that to happen to Iran if we can avoid it.'
Shafaq News
25-04-2025
- Business
- Shafaq News
Russia to fund new Iranian nuclear plant
Shafaq News/ Iran and Russia have agreed to build a new nuclear power plant in Iran with financing from a Russian-funded credit line, Iranian Oil Minister Mohsen Paknejad announced Friday after the 18th Joint Economic Cooperation Commission in Moscow. Paknejad said the project will include completing the second and third phases of the Bushehr nuclear power plant, emphasizing that Iran and Russia will continue cooperating on the peaceful use of nuclear energy. On trade, Russian Energy Minister Sergey Tsivilyov said bilateral trade rose 16.2% in 2024 to $4.8 billion. He added that both governments believe there is room for significantly higher trade volumes. Paknejad echoed that view, saying the full implementation of existing agreements could push trade from around $4 billion to $6 billion. Tsivilyov also announced that Tehran will host the commission's 19th session. The figures mark a recovery in trade ties after a decline in 2023. The two sides signed agreements to expand cooperation in the upstream oil and gas sectors, including field development and technology sharing. Paknejad said Tehran and Moscow are finalizing memoranda of understanding with Russian energy giant Gazprom, aiming to start by importing Russian gas into Iran. 'Only a few technical details remain before finalizing import volumes, with future plans for gas swaps and transits to other countries.' Paknejad added that Iran and Russia are also deepening their economic and strategic cooperation through regional organizations such as the Shanghai Cooperation Organization, BRICS, and OPEC+. The announcement follows Russia's ratification of a 20-year strategic partnership agreement with Iran, signed by Presidents Vladimir Putin and Masoud Pezeshkian in January. The pact outlines long-term collaboration in sectors including defense, energy, agriculture, finance, and technology.
