Tehran, Moscow Set to Bypass Sanctions

Tehran, Moscow Set to Bypass SanctionsTehran, Moscow Set to Bypass Sanctions

Head of the Iran-Russia parliamentary group has said Tehran and Moscow are seriously resolved to cooperate to get around sanctions.

Ramezanali Sobhanifar said, "The two countries can help each other through bartering and establishment of a monetary bank to facilitate the flow of money."

He referred to the sanctions imposed on Russia and Iran by Western countries and stressed the need for increased mutual cooperation to combat sanctions. He said, "Iran and Russia can use their special capacities… to their own benefit thanks to their neighborly and longstanding relations," ICANA reported.

Iran and Russia enjoy the potential to make the sanctions ineffective, the MP said.

The member of the Majlis Industries and Mines Committee said the two sides are ready to cooperate to undercut the sanctions, adding, "In the meetings held over the past two weeks with representatives from Russia's State Duma and its ambassador to Tehran, we found out that the Russian president and government are seriously determined to cooperate to enhance bilateral ties in the economic sphere."

"We can gain a big share of the Russian market by seizing the opportunity."

Sobhanifar also said a joint economic committee has been established with the aim of promoting economic relations between the two countries.

The committee held a meeting in Tehran on September 8 with the attendance of a number of Russian business leaders.

He reiterated, "We hope to create an appropriate opportunity to improve the economic situation in both countries in the current climate."

In August, Russia and Iran signed a memorandum of understanding under which Russia would buy Iranian crude oil and Iran would purchase energy equipment, machinery, and food.  

Deputy Oil Minister Ali Majedi has also been quoted by the media as saying that Iran and Russia plan to "develop cooperation" in energy and petrochemicals industries.