Russian oil firms willing to finance Iran's oil, gas projects

Tehran, Iran, Jan. 5 By Milad Fashtami - Trend: Russian firms have reportedly declared their readiness to finance Iran's oil and gas projects. Asghar Soheilipour, the head of Investment Committee of National Iranian Gas Company, said that since Russians have halted several projects in eastern Europe and Syria due to different reasons, they are willing to finance Iranian projects, Iran’s IRNA News agency reported on Jan. 5. "One company even proposed to inject $2 billion immediately," he said. According to the official, a Russian company has financed a $700-million pipeline project from southern city of Iranshahr to southeastern city of Chabahar. "The project will be completed in two years," he said. The US and EU have imposed sanction's on Russia over the country's alleged role in Ukrainian crisis. Following the sanctions, Moscow voluntarily banned importing certain items from the western countries. This has created an opportunity for Tehran to boost its ties with Moscow. During an official visit to Tehran by a high-ranking Russian delegation, the country officially requested Iran to increase its agricultural products and food stuff exports to Moscow in order to meet the country’s domestic demands. Edited by CN Follow us on Twitter @TRENDNewsAgency