‘As the sanctions against the Russian government continue to be implemented by Western nations, Moscow has been forced to look to Asia for economic and strategic partnerships. The Kremlin has been negotiating significant trade deals with two giants in the region for years now, with the prospect of a new geopolitical reality emerging if Russia, Iran and China continue to forge stronger ties into the future.
At the beginning of August, Russia and Iran signed a historic $20 billion oil deal which will see the two nations enhancing cooperation within the “oil and gas industry”, in addition to strengthening economic collaboration. The deal proposes that Russia will assist Tehran in developing its energy infrastructure along with purchasing Iranian oil, in exchange for Iran importing consumer goods and agriculture products including wheat, leather, pulses and meat. Further talks are set to take place at the Russia-Iran intergovernmental commission meeting in Tehran on September 9-10, which will see the details of the deal cemented.
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Relations between the two nations are complex and have ranged from collaborative to hostile in the last few decades, with a degree of tension existing between Moscow and Tehran over many issues today. The Caspian Sea is one dispute that has strained relations between the five bordering countries since the collapse of the Soviet Union in the early 1990s. Russia, Iran, Kazakhstan, Azerbaijan and Turkmenistan are unable to agree on the legal portion owned by each state, in a sea which is home to vast deposits of oil and gas. Iran has also been displeased by Russia’s support of United Nations Security Council Resolutions which have imposed sanctions on Iran over the past decade, stunting the development of the Iranian economy’
Read More: Russian-Iranian Relations Strengthen Amidst International Sanctions
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