Iran, Russia Move Deals to Implementation

Iran, Russia Move Deals to Implementation
(Saturday, February 21, 2026) 10:13

TEHRAN, Feb. 19 (NIPNA) – Iran and Russia have signed the final document of their 19th Joint Economic Cooperation Commission, marking a shift from preliminary understandings to implementation, Iran’s petroleum minister said on Wednesday.


Mohsen Paknejad said the agreements reached at the meeting represented a “transition from understanding to execution.”

He said specialist working groups had prepared the final document after “intensive and lengthy” discussions, adding that the commission provided a framework to pursue the two countries’ broad economic potential.

Paknejad thanked Russia’s energy minister and his team for their “constructive cooperation” in finalizing agreements and removing obstacles in areas of mutual interest.

He said significant capacity for collaboration remained, particularly in energy, including oil and gas field development, as well as in finance, banking, transport, agriculture, education and standards.

Gas import talks near completion

Paknejad said negotiations on importing gas from Russia were close to completion, with “one or two clauses” left to finalize. He said focused meetings would aim to conclude the remaining points, leading to the signing of a final contract “soon.”

Responding to a question on Iran’s gas needs, Paknejad said the country’s production capacity had increased notably since the start of the current administration. He cited a record daily output of 730 million cubic metres from the South Pars Gas Field, calling it unprecedented.

Despite higher production, Paknejad said Iran continued to face a gas imbalance, prompting Tehran to pursue imports from Russia.

He added that cooperation between Iran and Russia in oil and gas was already strong and could expand further. Iran is reviewing the possible award of development rights for a major shared field, he said, noting that preliminary talks were under way.

Open to Russian investment

Paknejad said the strategic partnership treaty between Iran and Russia had created a favorable platform for economic cooperation and clarified the framework for joint projects.

“Iran welcomes the presence, participation and investment of Russian companies in the development of oil and gas fields,” he said.

 


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