Iranian leader suggests Iran, Russia set natural gas prices

Iran Materials 16 June 2006 12:13 (UTC +04:00)

(RIA Novosti) - Iran's president said Thursday that his country and Russia could determine prices for natural gas together.

Speaking at a meeting with President Vladimir Putin in Shanghai, Mahmoud Ahmadinejad said Moscow and Tehran could gain from this idea, reports Trend.

"We can closely cooperate from the standpoint of setting natural gas prices... in the interests of global stability," Ahmadinejad said.

Ahmadinejad said there was "huge potential for the development of Russian-Iranian trade and economic relations."

"But we are still at the beginning of the road," he said.

President Putin said: "I know our companies are holding talks to unite efforts in the oil and gas sphere, including on the establishment of a joint venture. We support this initiative of our Iranian partners."

"We have many promising areas of interaction, [including] energy and communications, and our colleagues are working intensely in all these areas," Putin said.

The Russian leader said mutual trade had tripled since 2000, but added that Russia still lagged behind the EU, China and Japan.

Putin said an intergovernmental commission would hold a session later in the year, which he said was "another step to implement tasks facing our states."