Russian Gazprom has signed an agreement with the National Iranian Oil Company to cooperate in the production and transportation of oil and gas production.
Tehran has offered Gazprom a full package of projects to develop oil and natural gas fields, and to build processing facilities to transport oil from the Caspian Sea to the Gulf of Oman. However, analysts have said that the agreement will only exist on paper unless the political situation changes. Iran is under three sets of UN Security Council sanctions for its refusal to stop uranium enrichment while the US and Israel have refused to rule out military strikes in Iran continues its nuclear program.
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