Report: Russia can invest $50 bln in Iranian oil, gas sector

MOSCOW, Jul 12 (PRIME) -- Russia will invest U.S. $50 billion in Iran’s oil and gas sector, aide to Iran’s leader Ali Akbar Velayati told local channel IRIB after a meeting with Russian President Vladimir Putin on Thursday.

“The readiness that Putin has announced during today’s meeting is to extend oil relations of the two countries and raise investment in the oil and gas industry of our country to a threshold of $50 billion,” the official said.

Velayati said that this amount is enough to replace the European companies which refused to cooperate with Iran.

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