At a sensitive time … an economic agreement linking Iran and Russia

In light of Western sanctions, Moscow and Tehran continue to deepen their energy alliance, but the implementation of the declared agreements is still pending due to disputes that have not yet been decided, especially with regard to gas and oil pricing.

Relations between the two countries have witnessed an unprecedented rapprochement since the war began in Ukraine, culminating in a strategic partnership treaty at the beginning of the year, which included the fields of energy, technology and industry. Within this framework, it was agreed on Russian financing to build a new nuclear station in Iran, despite the continuous US pressure to return Tehran to the nuclear negotiating table.

According to the statements of Iranian Oil Minister Mohsen Bak Ahmadinejad, Russia intends to export about two billion cubic meters of gas to Iran this year, with plans to gradually raise the quantity to 55 billion cubic meters annually, equivalent to the power of “Nord Stream 1” pipelines before stopping it.

Iran, which has the second largest gas reserves, is seeking to turn itself into a regional gas distribution center, with possible help from Russia, Qatar and Turkmenistan, in an attempt to overcome the local supply deficit resulting from the sanctions and weak investment.

Pak Nejad also revealed 4 billion dollars agreements with Russian companies to develop seven oil fields, in addition to activating a memorandum of understanding between the Russian “Gazprom” and the Iranian gas company to transport gas through pipelines, despite the absence of accurate information about the required infrastructure or proposed tracks.

On the other hand, American pressure to keep Iran under isolation continues, at a time when Moscow is increasing as a nuclear and technical ally of Tehran, especially after the. On financing a new nuclear station in parallel, with Washington’s tightening of its demands to inspect Iranian facilities.

These developments come at a time when “great mystery” prevails in the global energy market, according to the Iranian official, amid the effects of the trade war led by US President Donald Trump, and the fluctuations of oil prices that study the “OPEC+” coalition.

Despite the technical and political challenges, Russian -Iranian moves represent a new step in reshaping the map of global energy alliances, and confirms the endeavors of the two parties to break the western isolation collar and expand their presence in alternative markets. (Sky News)