“The meeting discussed issues related to the development of cooperation between the countries, particularly the increased use of national currencies in mutual payments, joint work on financial messaging systems and financing promising projects,” the communique posted on the Cabinet’s website reported.

The text also stated that the investment plans would be directed towards “the transportation infrastructure and the field of fossil fuels, included the petrochemical industry and the processing.”

Novak stressed that the Russian and Iranian presidents set the goal to increase mutual exchanges, and in response, Russian and Iranian companies are interested in expanding trade.

Following the start of the Russian special military operation in Ukraine on February 24, many countries, mostly from the West, started several individual and sectoral sanctions intended to inflict the greatest possible damage to the Eurasian nation’s economy and thus put pressure on Moscow to stop the hostilities.

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