Iran, Russia to finalize oil deal soon, says Iran oil minister

Iranian Oil Minister Mohsen Paknejad announced that the country’s oil team has discussed Tehran-Moscow oil contract in details with the Russian side and the pact is now is final stages.

News ID: 5801

Date: 18 January 2025 - 12:36

TABNAK, Jan 18: The Iranian oil minister, who has accompanied President Masoud Pezeshkian during his visit to Moscow, said: "We have had detailed negotiations with Russian energy officials over the past few months; the agreements between the two sides regarding the contractual clauses have reached an almost final point, and we will move forward with the process of signing the final memorandum of understanding."

Late June, a memorandum of understanding (MOU) was signed between Tehran and Moscow for the transfer of Russian gas to Iran on Thursday.

The MOU is a big step towards turning Iran into a regional gas hub and fulfilling the promise of the late President Ebrahim Raisi in this regard.

In the last days of the 13th government, the Ministry of Oil managed signed an MOU with Russia to make Iran the gas hub of the region; an action that is in line with the fulfillment of the promise of the late president.

This MOU between the holders of 60 percent of the global gas reserves, as clean energy, has been signed based on mutual interests in the international frameworks and will soon enter the contract and implementation stage.