Iran, Russia Sign 7 Cooperation MoUs

TEHRAN – High-ranking Iranian and Russian officials inked 7 cooperation Memoranda of Understanding (MoU) in the presence of President Hassan Rouhani and his Russian counterpart Vladimir Putin.

One of the documents endorsed by Iranian and Russian top diplomats Mohammad Javad Zarif and Sergei Lavrov on Monday evening eases visa requirements for reciprocal visits by the two countries’ nationals, according to Fares News Agency.

Also other documents and MoUs are related to the health, railway, banking, insurance, electricity, power plant, water and energy sectors.

 Putin arrived in Tehran on Monday to meet Iran’s top officials and participate in the Gas Exporting Countries Forum (GECF) conference.

Upon arrival in Iran, he rushed to meet Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei whose meeting lasted for two hours.

Earlier this month, Iranian Communications and Information Technology Minister Mahmoud Vaezi and President of Russian Central Bank Elvira Nabiullina in a meeting in Moscow discussed broadening of economic cooperation, specially establishing a joint bank.

During the meeting in Moscow, Vaezi proposed setting up a joint bank between the two countries bank to ease bilateral trade through using their national currencies and conducting trade exchanges in the two countries’ national currencies.

In February, Iranian Ambassador to Russia Mehdi Sanayee said that Tehran and Moscow plan to start a considerable boost in their trade exchanges in the current year by utilizing all their economic capacities and potentials.

“Iran and Russia signed many agreements in 2014, and 2015 is the year for implementing these agreements,” Sanayee told FNA.

In December, Sanayee announced that Tehran and Moscow planned to boost their trade exchanges to $70 billion in the near future.

“The two countries (Iran and Russia) are serious about implementing an economic memorandum of understanding (MoU) which has been recently signed at the joint economic commission which amounts to $70 billion,” Sanayee said, addressing a conference in Moscow.

He noted that Iran and Russia signed a major economic, trade and energy agreement in August 2014 which could pave the way for multiplying the two countries’ trade exchanges.

In March, Iran and Russia signed an MoU on the supervision of their central banks over the financial operations of the two countries’ banks.

“The MoU was signed by the deputy governors of the Iranian and Russian central banks during a visit to Moscow by a high-ranking Iranian banking and financial delegation from March 10 to 12,” Iranian Ambassador to Moscow Mehdi Sanayee said at the time.

He noted that Iran’s banking delegation also visited Russia’s central bank and other major banks during its stay in Moscow.

In May, Tehran and Moscow started implementation of a recently signed MoU banking, including establishment of a joint bank to ease bilateral trade through using their national currencies.

“Three measures are underway (within the framework of this agreement), including opening of a joint bank account by Iran and Russia, presence of several Russian banks in Iran and choosing a Russian bank for rial-based trade exchanges in Russia,” Sanayee said, addressing a meeting of Iran-Russia Joint Chamber of Commerce in Moscow  at the time.

He noted that the representatives of two Russian banks had come to Iran and had held talks with officials of the Central Bank of Iran in May, and said, “The second step to broaden banking relations between Iran and Russia will be opening a joint account.” Sanayee pointed to facilitating cash transfer for Iranian exporters through Russia’s Mir Business Bank as the third step to expand bilateral banking relations.

Over the last several years, Iran and Russia have had vast cooperation in different fields, specially in political and economic spheres.

The two states also enjoy special positions on the international scene and have long had constant and regular consultations on key regional and global issues.

M.Wassouf