Iran to sign $4bn oilfields deal with Russia in bid to bolster ties

aljazeera.comPublished: 4/25/2025

Summary

Iran has announced a $4 billion agreement to develop seven oil fields in cooperation with Russian companies, despite Western economic sanctions. This follows decades of strategic partnerships post-Ukraine, including efforts to overcome nuclear negotiations with the U.S., which resume in Oman next week. The deal underscores Iran's efforts to strengthen ties with Russia as they seek to stabilize their energy supply amid increasing sanctions.