Iran announces to augment fuel cooperation with Russia after nuclear talks

Ashgabat: The indirect talks regarding the nuclear deal between Iran and the United States started in Doha have failed. The United States blamed the failure of talks on the aggressive stand adopted by Iran. At the same time, Iranian President Ebrahim Raisi met Russian President Vladimir Putin in Turkmenistan. The decision to further strengthen the fuel-related cooperation between the two countries was taken during the meeting. Both leaders expressed the resolve to work on the International North-South Corridor connecting Iran with Russia.

Moreover, a meeting of the countries connected to the Caspian Sea was held in Ashgabat, the capital of Turkmenistan. Russian President Vladimir Putin and Iranian President Ebrahim Raisi held independent talks regarding fuel, fuel gas and trade issues. The Iranian President said on this occasion that the cooperation in the trade and energy sector between the two countries had reached new heights. But given the capacities of Iran and Russia, the cooperation in these two sectors can be made more comprehensive. The Iranian President claimed that an independent financial transaction system would be developed as an alternative to western systems. Although it was not mentioned, Russia and Iran will be carrying out barter trade. A few months ago, Russia had proposed this. Russia had earlier clarified that the Russian version of the payment system built as an alternative to the western payment system SWIFT would be used to transact between its trading partners.

Both the leaders agreed to increase bilateral trade cooperation and fuel cooperation. President Putin and President Raisi have agreed that the International North-South Transport Corridor connecting the Caspian Sea to the Indian Ocean through the Persian Gulf needs to be strengthened. This corridor connecting the Persian Gulf to northern Europe through Russia can provide an alternative to the freight movement through the Red Sea-Suez Canal route. The strengthening cooperation between Russia and Iran at a time when sanctions are being imposed on Russia becomes significant. International analysts claim that this corridor will prove to be a massive benefit for India. Iran can use its geographical location more effectively with this corridor. According to analysts, the completion of the project will further strengthen the Iranian position on the global level.