Tag Archives: Alexander Novak

Iran has signed the largest number of oil deals with Russia for the development of Iranian oil and gas fields.

18 ministers had already confirmed they would attend the event.

Tehran is set to host the 15th round of the commission. The date of the event will be announced later.

The agreements on gas transport between Moscow and Kyiv end at the end of 2019.

OPEC and Russia have been cutting production together to support prices since 2017.

Russia first joined forces with OPEC to exert more control over international oil prices in late 2016.

Moscow is better positioned to balance its budget at current levels than Saudi Arabia.

Russia has been in full compliance with its pledge to gradually cut its oil production.

Saudi Arabia has used the forum in recent years to pitch for foreign investment.

A first ministerial meeting on the topic took place on July 17. 2018. followed by meetings at expert during the second half of 2018.