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Moscow may use Iran ‘as a bargaining chip with the West’

As the West puts further pressure on Russia over the Ukraine crisis, Moscow is seeking to strengthen energy ties with Tehran.
By Leigh Elston and Tom Washington 7 August 2014 Middle East & Africa / Global Markets 0 12621

As the West puts further pressure on Russia over the Ukraine crisis, Moscow is seeking to strengthen energy ties with Tehran in a move that could ultimately undermine the P5+1 negotiation process and delay Iran’s return to the global oil and gas stage. 

Following the meeting of the Russian-Iranian Commission for Commercial and Economic Cooperation in Moscow on Tuesday, Iran’s Petroleum Minister Bijan Zangeneh, Russian Energy Minister Alexander Novak and co-chairmen on the commission signed a five-year memorandum of understanding to increase cooperation to expand trade...