Tuesday, July 19, 2022

Russia’s Gazprom signs major deal in Iran worth billions

Gazprom has signed a major agreement in Iran even as it says it cannot guarantee gas supplies to Europe.

The agreement will involve billions of dollars, according to Iranian media, and will come despite sanctions on Russia and Iran.

The company has declared force majeure, which enables it to cut supplies during extreme conditions. This means even as Gazprom is at the center of controversy in Europe, it is making deals in Iran.

Russia Iran relations

Russia’s President Vladimir Putin is in Iran this week and is seeking to push for more bilateral strategic agreements with Tehran.

The US has said Russia is looking to acquire Iranian drone technology. READ MORE