Under an agreement signed between Iran and Russia, Moscow was set to allocate a one-billion-dollar loan to Tehran for construction of a 1400-megawatt power plant in southern Iran.

During the meeting, the two ministers also conferred on the agreements reached at the 15th joint economic cooperation commission of Iran and Russia.

The Russian minister, for his part, voiced satisfaction over the completion of Iran’s domestic legal process for joining the Eurasian Economic Union (EAEU), saying the interim agreement, which would lead to the formation of a free trade zone between Iran and the regional union, would officially take effect on October 26.

Novak then called for the implementation of a trilateral agreement between Iran, Russia and Kazakhstan for the temporary transit and swap of wheat, which Ardakanian promised to seriously follow up on.

The Russian energy minister further welcomed bilateral cooperation on aerospace, and called for cooperation in the field of digital energy, which was welcomed by the Iranian side.

Ardakanian also invited his Russian counterpart to take part at the 19th Iran International Electricity Exhibition, slated for Oct. 30 to Nov. 2, which was warmly welcomed by the Russian side.

Ardakanian, who also heads the Iran-Russia joint economic commission, is accompanying Foreign Minister Mohammad Javad Zarif in Moscow.

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The two sides are making every effort to cement the legal and infrastructural bases for scoping the scale of their collaborations, Novak added.

Speaking to reporters on the sidelines of the meeting, Zanganeh said he and Novak had agreed at the meeting to strengthen ties between the two oil exporters.

The veteran minister noted that extending the deal between OPEC and the group of non-OPEC oil-producing countries on output cut is not a difficult task, adding that it should be straight-forward to extend the global oil output deal between OPEС and non-OPEC countries.

“As I understand, there is no difficulty to extend this cooperation,” the minister noted.

Noting that the balance between supply and demand in the oil market is fragile, Zanganeh said the oil producers should be wary of any trouble in the oil market, especially due to US measures against big oil producers.”

“Russia is one of the biggest oil producers in the world, and we are in a situation that we thought it is necessary to discuss the oil market with our Russian friends,” Zanganeh said.

The US reimposed sanctions on Tehran in November after unilaterally pulling out of a 2015 nuclear accord between Iran and six other countries, including Russia, China, the UK, France and Germany.

Washington is likely to renew waivers to sanctions for most countries buying Iranian crude, including the biggest buyers China and India, as the major importers of Iranian crude resist calls by the US to end their oil purchases.

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Top talents are considered as one of the main pillars of new knowledge-based economy, so that many countries have considered plans for elites and domestic and foreign talents.

Identifying, attracting and promoting interactions with country’s non-resident talents can help promote capabilities in the fields of science, technology and innovation as well as creation of new economic added value.

Program for cooperating with Iranian experts and entrepreneurs living abroad was set up in Iran’s National Elites Foundation in order to take advantage of these capacities. Objectives of this comprehensive program include as follows: taking advantage of scientific and research capabilities of Iranian entrepreneurs living abroad in scientific, technological and industrial centers of the country, promoting scientific and research level of co-operative centers, providing suitable ways for the development of advanced and emerging technologies in the country, etc.

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They also explored ways to boost bilateral relations between the two countries in the field of economy and shed light on stronger cooperation in energy, industry, transit and agriculture sectors.

Tehran is set to host the 15th round of the commission. The date of the event will be announced later.

During the 14th meeting of the commission, which was held in Moscow in March 2018, the two sides signed 14 Memoranda of Understanding (MoUs) on cooperation in the fields of electricity, nuclear energy, transportation, industry, trade, customs, and banking transactions.

Accordingly, an MoU was signed between the working groups of the Russian Ministry of Energy and the Iran’s Oil Ministry for cooperation on the India-Iran-Pakistan gas pipeline, an MoU on geology cooperation, an MoU on financing and investment in Iran’s mines and industries, as well as an MoU on joint research and development on underground resources and Caspian seabed.

The two sides also inked an agreement on joint investment in thermal power plans, an MoU on cultural cooperation, transportation, as well as a trilateral agreement between Iran, Russia and Kazakhstan on transit and wheat swap.

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 Russia’s Energy Minister Alexander Novak says Moscow will continue trading Tehran’s crude despite American restrictions.

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