Russia Investing $50bn in Energy

Iran has touted $50bn worth of potential Russian investments in its oil and gas sector as it seeks to deepen its relationship with Moscow.

Following the latest trip of an Iranian economy and foreign affairs group, Mr. Velayati, used a media interview during his visit to say that a Russian oil company had already signed a $4bn deal with Iran that “will be implemented soon”, without providing details. He added: “Two other major Russian oil companies, Rosneft and Gazprom, have started talks with Iran’s oil ministry to sign contracts worth up to $10bn.” A Russian government official confirmed the $50bn investment plans on condition of anonymity.

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