Companies & Finance

Russia may invest up to $50 bln in Iran’s oil and gas sector

Russia is ready to invest up to $50 billion in Iran’s oil and gas sector, Mehr news agency reported Ali Akbar Velayati, senior adviser to Iran’s Supreme Leader Ali Khamenei, as saying on Thursday.
By Staff reporter 13 July 2018 0 31726

Russia is ready to invest up to $50 billion in Iran’s oil and gas sector, Mehr news agency reported Ali Akbar Velayati, senior adviser to Iran’s Supreme Leader Ali Khamenei, as saying on Thursday.

Velayati made the remarks during a live interview with Iranian state TV following a “constructive” meeting with Russian President Vladimir Putin.

Russia can replace Western companies looking to exit Iran over sanctions by the United States, Velayati added.