Russian deputy PM Alexander Novak and Iranian petroleum minister Javad Owji at the Tehran Oil Exhibition
Letter from Iran: Tehran's dreams and Moscow's deceptions
Russia is making a show of support for Iran as the two nations strengthen their ties, but the promised investment may never materialise
While the Ukraine conflict has widened the rift between Russia and the West, a more nuanced transformation is unfolding across the Middle East's geopolitical landscape as a result of the war. Alongside its cautious rapprochement with the Gulf Cooperation Council, shared problems have pushed Iran into deepening its political and economic relations with Russia. Tehran and Moscow have not only expanded their military cooperation, but have also signed economic agreements in the energy and transport sectors. For its part, Iran perceives itself on the brink of realising its long-held aspiration of forging a strategic alliance with Russia and China. The reality is more complex, however. The severit
Also in this section
1 May 2025
The NOC’s dire financial situation and maturing fields has left the authorities with little choice but to reduce crude expectations
30 April 2025
With a new board appointed to lead NNPC and moves by President Tinubu to exert control in the Delta region, there is renewed hope the country will be able to turn the corner and rebuild production to former peaks
30 April 2025
While economic weakness and the electric vehicles trend have hit oil demand growth, petrochemicals and jet fuel show more nuanced changes across the barrel
30 April 2025
The company will use methane-rich gas produced from local coal to temporarily replace lost supplies from Mozambique
