Russia Eyes Expansion of Investment in Iranian Oil and Gas Sector

Russian oil companies are to undertake a slew of new investments to development Iran’s huge oil and gas reserves, according to recent comments from the Islamic Republic’s Petroleum Minister, Javad Owji. Given the size of crude oil and natural gas reserves held by the two countries, the news of closer cooperation between the two countries might be considered concerning for the U.S. and its allies. Iran has the third largest oil reserves in the world, having seen the total increase recently to around 209 billion barrels. Due to long-running…