UPDATE: Putin welcomes agreement on Iran’s nuke program -- Kremlin

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MOSCOW, Jul 14 (PRIME) -- Russian President Vladimir Putin welcomes a so-called Joint Comprehensive Action Plan approved after talks on the Iranian nuclear program and believes that it will support cooperation with the country on the peaceful use of nuclear energy, according to a statement published on the Kremlin’s Web site on Tuesday.

“Russia welcomes the agreement which was reached in Vienna settling the situation concerning the Iranian nuclear program and the Joint Comprehensive Action Plan approved by the Six and Iran. We are sure that today the world drew a deep breath,” Putin said.

The agreement allowing Iran to develop its nuclear program, including uranium enrichment, is important for Russia from the point of view of cooperation with the country in the peaceful use of nuclear power, the president said.

Russia calls on all participants of the action plan to fulfill the undertaken obligations in good faith, the Foreign Ministry said in a statement.

Russia is ready to do its best to secure the fulfillment of the agreement, Putin said.

The country also plans to fulfill bilateral agreements with Iran, the ministry said.

RUSSIA WANTS MORE COOPERATION

Under the agreement, Iranian nuclear ability is limited in return for lifting international oil and financial sanctions in the future.

The lifting of sanctions will support the country’s trade with Russia, in particular in Russian rubles, and Tehran may start buying the Russian currency in 2016, a representative of the Economic Development Ministry told PRIME.

Russia plans to start negotiations with Iran to broaden the list of goods for foreign trade, it wants to buy fish, sea products and poultry from the country.

Russian products of heavy engineering and agriculture products are likely to meet Iran’s needs, according to the ministry.

Russia and Iran also plan joint projects in construction of nuclear power blocks, electrification of railways, construction of elevators, repair of power plants and development of oil and gas fields.

National monopoly Russian Railways is ready to electrify railways and build infrastructure which will be easier after sanctions are lifted, CEO Vladimir Yakunin said.

In September 2014, Russian Railways said it may conclude contracts on construction and electrification of railways worth 8.4 billion euros, which may cover 5,600 kilometers of railways.

Russian Railways completed the first project in Iran in October 2012. The company electrified about 46 kilometers of the Tabriz - Azarshahr railway.

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