Russia, Iran Agree To Continue Investment Projects Despite US Sanctions - Lavrov

Russia and Iran intend to go ahead with their joint investment projects despite US sanctions, Foreign Minister Sergey Lavrov said Thursday, following talks with his Iranian counterpart in Moscow

MOSCOW (UrduPoint News / Sputnik - 24th September, 2020) Russia and Iran intend to go ahead with their joint investment projects despite US sanctions, Foreign Minister Sergey Lavrov said Thursday, following talks with his Iranian counterpart in Moscow.

According to Lavrov, the sides confirmed their desire to further strengthen trade and investment ties despite "illegal unilateral sanctions" and pressure from the United States, which seeks to economically isolate Iran in violation of "all norms of international law and the World Trade Organization."

"We have agreed to continue implementing major joint investment projects, primarily in the energy sector, including nuclear energy, transport and industrial cooperation," the minister said at a joint press conference.

The two countries are also looking forward to a meeting of the Russian-Iranian commission on trade and economic cooperation, which was initially scheduled for June but was delayed due to the pandemic.

"In these conditions, we assign an important role to the permanent Russian-Iranian commission on trade and economic cooperation. We have agreed that the next meeting of this important mechanism will be held before the end of the year in Russia. The dates will be determined taking into account the epidemiological situation," Lavrov added.

When asked about the work on the 2001 treaty on foundations of relations and principles of cooperation, Iranian Foreign Minister Mohammad Javad Zarif said that it would be automatically extended.

Before the expiry, the sides want to transform it into a comprehensive treaty, so that it reflects the current circumstances, he noted, adding that the two countries would exchange their draft versions.