Latest news with #Paknejad
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
30-04-2025
- Business
- Shafaq News
Iraq, Iran ink oil cooperation deals
Shafaq News/ Iran and Iraq signed four cooperation documents in the oil and gas sector, Iranian Oil Minister Mohsen Paknejad announced on Wednesday. Paknejad told reporters that agreements were signed during his visit to Iraq two weeks ago. Two of the documents outline cooperation frameworks, including implementation and joint participation in associated gas collection projects in Maysan province and near the border, he revealed, adding that these projects had previously stalled due to a lack of raw materials, but could move forward if conditions allow. 'Another agreement covers joint offshore exploration in shared maritime areas, along with technical studies to develop Iran's Khorramshahr oil field, which is adjacent to Iraq's Sindibad field,' the Iranian minister pointed out. For his part, the Iraqi Oil Minister Hayan Abdul-Ghani confirmed the signing of the memoranda and agreements with Iran, emphasizing the importance of knowledge exchange and joint efforts to support the interests of both countries. Iraq is pursuing major gas investment projects aimed at achieving self-sufficiency in petroleum products, he continued. In a previous meeting in February 2024, Paknejad also met with Iraqi Electricity Minister Ziyad Ali Fadel, where the two sides reaffirmed their commitment to expanding cooperation in oil, gas, and electricity sectors.
Yahoo
28-04-2025
- Business
- Yahoo
Russia, Iran agree on 55bcm of annual gas supplies
Russia and Iran have reached a preliminary agreement on annual gas supplies of 55 billion cubic metres (bcm), with the pricing yet to be finalised, according to a Reuters report, citing sources. Concurrently, Russia has committed to financing the construction of a new nuclear power plant in Iran. The deal comes at a time when the US is attempting to isolate Iran unless it consents to a new nuclear inspection deal. Amidst the ongoing military conflict in Ukraine, Russia has fortified its relationship with Iran, with both countries facing Western sanctions and experiencing a decline in Russian oil and gas exports to Europe. Russia, with a history of nuclear cooperation with Iran, assisted in building the Bushehr nuclear reactor, Iran's first nuclear power plant. Iranian Oil Minister Mohsen Paknejad's visit to Moscow this week culminated in a meeting with Russian Energy Minister Sergei Tsivilev at an intergovernmental commission, where the gas transfer agreement and nuclear plant financing were discussed, the report said. Despite Iran's vast gas reserves, second only to Russia, it still imports gas due to under-investment, partly caused by US sanctions. Tsivilev revealed that Russia may supply Iran with 1.8bcm of natural gas this year, pending a price agreement, the report added. Russian President Vladimir Putin had previously indicated the potential for supplying up to 55bcm of gas annually to Iran, starting with lower volumes. Paknejad announced on state TV that Iran is set to sign a $4bn (IR168.03trn) agreement with Russian companies to develop seven Iranian oilfields. Although the details of the bilateral agreements signed by Paknejad and Tsivilev were not disclosed, it is known that Russian gas giant Gazprom signed a memorandum last June with the National Iranian Gas Company for pipeline gas supplies to Iran, although the pipeline route remains undisclosed. Paknejad confirmed Iran's commitment to the agreements with Gazprom, including establishing a regional gas distribution hub, potentially involving Qatar and Turkmenistan. During his meeting with Russian Deputy Prime Minister Alexander Novak, Paknejad commented on the uncertainties in the global oil market and the impact of recent US tariffs. Furthermore, Paknejad mentioned that OPEC and its allies, led by Russia (OPEC+), would make decisions to ensure market stability, without specifying the measures. Amidst these developments, several OPEC+ members have suggested accelerating oil output hikes, with a policy meeting scheduled for early May. "Russia, Iran agree on 55bcm of annual gas supplies" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
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.
Roya News
25-04-2025
- Business
- Roya News
Surge in trade expected between Russia, Iran
Russia and Iran on Friday projected a sharp increase in bilateral trade with the upcoming implementation of a free trade agreement between the two allied nations, expected to take effect on May 15. Russian Energy Minister Sergey Tsivilev, speaking at the conclusion of a Russian-Iranian intergovernmental meeting on trade cooperation, said the agreement 'opens numerous avenues for cooperation… and offers significant opportunities for trade between our countries.' The deal, part of a broader strategic treaty signed in January and ratified by Russia in early April, is expected to multiply trade volume 'several times over,' according to Iranian Oil Minister Mohsen Paknejad. Tsivilev noted that trade between the two countries reached USD 4.8 billion in 2024, but stressed that 'our trade potential is far greater.' Paknejad echoed the sentiment, saying, 'The current level of trade remains far below the targets set and the economic capacities of both Russia and Iran.' He added, 'The relationship between Iran and Russia holds major importance on the international stage.' In recent years, ties between Moscow and Tehran, both under heavy international sanctions, have rapidly deepened. Together with China and North Korea, Russia and Iran are seeking to forge a counterweight to Western influence, forming close alliances, especially in military cooperation, and supporting each other on various international issues. Paknejad said the Moscow meeting also covered discussions about extending the presence of Russian companies in Iranian oil and gas fields and potentially routing Russian energy supplies through Iranian territory. Other topics on the agenda included cooperation in the field of civilian nuclear energy and the construction of additional nuclear power facilities, Paknejad said, without providing further details. Western countries, led by the United States, have long suspected Iran of seeking to develop nuclear weapons — accusations Tehran denies, maintaining its nuclear program is strictly for peaceful purposes. The Kremlin has repeatedly expressed its willingness to do 'everything it can' to help find a diplomatic resolution to the Iranian nuclear issue, which remains under negotiation between Tehran and Washington with Omani mediation.
