Quartz: Days before Trump meets Putin, Russia is cozying up to Iran in a big way
On May 7, a day before the president Donald Trump announced that the US would withdraw from the Iran nuclear deal, a former US ambassador to Russia gave a prescient warning, telling Quartz that the withdrawal would play straight into president Vladimir Putin’s hands.
And that’s what’s happened. “Russia is ready to invest $50 billion in Iran’s oil and gas sectors,” Akbar Velayati, a senior adviser to Iran’s supreme leader, told the Financial Times (paywall) on Friday. “Military and technical co-operation with Russia is of major importance to Iran.”
It’s one of the biggest steps the two countries have taken to counter the threat of US sanctions. Before the US withdrawal from the nuclear deal, there was little, if any, energy or economic co-operation between the two countries, according to the FT.
The investment decision was confirmed by a Russian official. And it follows from an earlier announcement Putin made on his visit to Tehran, signing an agreement to invest up to $30 billion (paywall) in Iran’s energy sector.
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WNU Editor: These Russian companies are taking a huge risk with Iran. Aside from the culture of corruption in Iran and the impact of sanctions, the unrest that has rocked the regime in the past few months is very real .... The Economic Roots of Iran’s Unrest (James Robbins, National Interest).
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