Iran to sign $4bn oilfields deal with Russia in bid to bolster ties | Business and Economy News

Seven Iranian oilfields will be developed in cooperation with Russian firms, according to Iran’s oil minister.

Iran will sign a $4bn energy agreement with Russian companies, Iranian Oil Minister Mohsen Paknejad has announced, as the two nations seek to bolster ties while trying to cope with punishing Western economic sanctions.

Speaking on state TV earlier on Friday, Paknejad said the deal aims to develop seven Iranian oilfields in cooperation with Russian firms.

From military cooperation…