TEHRAN- Ali Akbar Velayati, an international adviser to the Leader of the Islamic Revolution, said that Russian President Vladimir Putin has announced his country’s readiness to make $50 billion of investment in Iran’s oil and gas projects.

The official made the remarks in a live TV interview after meeting President Putin in Moscow on Thursday, IRIB reported.
A Russian major oil company is to sign a $4 billion deal with Iranian Oil Ministry and related project will be started soon, Velayati said.
Two other main companies of Russia namely Rosneft and Gazprom Neft have also started negotiations with the Oil Ministry and the value of their deals with Iran can rise up to $10 billion, he added.
“As Mr. Putin said Russia is willing to expand oil and gas ties with Iran”, Velayati further noted and added, “$50 billion is a high figure for investment making; in this way Russian companies can take the place of those European ones that left Iran.”

MA/MA