Russian Federation to begin construction of two nuclear reactors in Iran

Russian Helicopters and its Iranian partners signed an agreement for the technical evaluation of the IHSRC plant for developing after-sales service for Mi-8/17 helicopters.

“The previously unlikely proposals for establishment of joint accounts and the creation of financial relations with Russia now seem to be more feasible”, said Seif at a meeting with a Russian delegation in Iran, according to the Mehr News Agency.

A series of agreements signed between the two countries previous year foresees eventually increasing the total number of Russian-built reactors in the country to nine. “Our main task is to ensure that if Iranian export flows to Russia it will not flow via grey schemes in various countries but in ruble-rial pair via correspondent accounts in Russian banks”, CEO said, adding that the scheme of payments in national currencies will become sustainable only in case the volume of Russian imports from Iran are comparable with export volumes.

The accord does not limit Iran’s development of civilian nuclear sites.

The start of construction follows a historic deal between Iran and world powers in July that ends a decade-long standoff over Tehran’s nuclear programme.

Meanwhile, Denis Manturov, Russia’s industry and trade minister, said on Tuesday that Moscow was considering lending $5bn to Iran next year.

The two countries are allied in supporting Syrian President Bashar al-Assad against opposition and jihadist groups, mainly the Islamic State group.

Concerned they might lag Asian and European competitors in Iran, some USA companies plan to hit the ground running as soon as sanctions are lifted by drafting contracts and sending envoys, the Wall Street Journal reported.

(NYSE:HPQ), Schlumberger (NYSE:SLB) and other US companies are reportedly preparing for the lifting of economic sanctions against Iran so they can enter the market of 77 million people.

“I welcome today’s consensus adoption by the International Atomic Energy Agency (IAEA) Board of Governors (BOG) of the resolution addressing the Director General’s December 2 final assessment of the possible military dimensions (PMD) of Iran’s past nuclear program”, he said in Moscow.

Fields of cooperation included transport, the auto industry, aviation, metallurgy, petrochemicals, oil and ship building.

Rostec Helicopters was also in talks with Iran to sell new Russian medical helicopters.