Russia and Iran sign new trade pact



[This agreement] will allow both countries to reduce the impact of Western sanctions. Ignoring the discontent of the United States, Russia and Iran this week agreed on a major Commodity transaction [that] allows both countries to reduce the impact of Western sanctions. According to his Facebook page, Iranian Ambassador to the Russian Federation Mehdi Sanai, [on] August 5, [stated that] the parties signed a five-year memorandum of understanding. [The document was signed on] the Russian side by the Co-Chairmen of the Russia-Iran – Russian Energy Ministery, Alexander Novak. [The Iranian signatories were]- Bijan Namdar [and] his colleague Zanganeh.

[The] Memorandum of Understanding provides for the delivery to Iran of Russian equipment and consumer goods in exchange for Iranian oil. According to “Kommersant”, citing a source in the Ministry of Energy, it is [an] expansion of trade and economic cooperation. Russian companies [that] will be able to take part in projects in Iran for the construction and reconstruction of electric power. Networks will supply Iran with machinery, equipment and consumer goods. Tehran [said] in response, [Iran] will sell its oil [to Russia], which is now on the trade embargo imposed by the West. According to the publication, the specific contracts and agreements to be concluded at a meeting of the intergovernmental commission. [The commission] will be held in the Iranian capital on September 9-10. 

[The “Kommersat” article also said that], “Present agreement is not a joke [meant to] “sadden” the White House. [It feels] that due to oil cooperation with Russia, Iran will have less to feel the effects of Western sanctions. In addition, the transaction will reduce the pressure on Tehran in talks with “six” on the status of its nuclear program. American lawmakers have urged the government to impose sanctions against Russia if she would go for the deal with Iran. 


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