Iran, Russia ink 9 MoUs
Tehran, Iran, Dec. 13
By Khalid Kazimov, Mehdi Sepahvand – Trend:
Iran and Russia have inked nine memorandums of understanding (MoUs) on expansion of economic ties.
The signed documents envisage cooperation in various spheres, including the fields of energy, transportation, insurance, trade and banking, Trend correspondent reported.
The documents were signed after two days of meetings between officials from both countries within the 13th Iran-Russia Joint Economic Commission in Tehran.
Russian Energy Minister Alexander Novak and Iranian Minister of Communications and Information Technology Mahmoud Vaezi participated in the ceremony for signing the nine MoUs.
Under the MoUs Russia will be involved in financing several projects in Iran, including the construction of thermal power plants as well as a project on electrification of a railroad in northeastern Iran.
Trade turnover between the two countries currently stands at $1.5 billion, which is expected to hit $2.5 billion over the next year.