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Russia-Iran Joint Economic Energy Commission to begin


Russia-Iran Joint Economic Energy Commission to begin

Photo: SPUTNIK/AFP via Getty Images

Russia will host the 16th Russia-Iran Joint Economic Energy Commission from today through November 1.

The Commission is a meeting between Russian and Iranian government officials to discuss foreign policy around the energy sector. Working groups are formed across an array of industry topics including resource exploitation, transportation and tech development.

Moscow and Tehran have increased cooperation on a number of issues since the Russian invasion of Ukraine isolated Russia from Western countries. As the EU cuts off Russian gas flows, Moscow has turned to other authoritarian regimes. They have bought arms from North Korea and Iran, and have turned to China to sell gas.

With Russia and Iran both under Western sanctions, they are now positioned to help one another dodge sanctions and influence global energy prices. As Russia pivots its energy market east towards Asia, Iran could be a critical ally in facilitating trade and shipments east. However, because Moscow and Tehran are energy competitors seeking to sell to the same markets, close energy cooperation appears unlikely short- to medium-term. Instead, the two countries will likely continue developing resource extraction capacities and trading oil on a lower level, while increasing trade in tech and arms.

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