IRAN, RUSSIA STRATEGIC PARTNERSHIP
SHANA - The Joint statement made by President Hassan Rouhan and Russian leader Vladimir Putin after their meeting in the Kremlin on Tuesday underscores the two countries' strategic partnership.
The two Presidents also insisted in the statement that all parties involved in the nuclear deal between Tehran and six world powers should comply with their obligations under the agreement on the Iranian nuclear program, also known as the Joint Comprehensive Plan of Action, IRNA reported.
'While stating the importance of this Joint Plan as a multilateral international document, approved by the UN Security Council, Russia and Iran emphasized the need for full compliance by all parties with obligations under this document. At the same time they stressed the fact that the Islamic Republic of Iran has full legitimate rights to the peaceful uses of nuclear energy in accordance with the Non-Proliferation Treaty.'
Russia welcomed 'Iran's strict compliance with its obligations under the Joint Plan, confirmed by the IAEA, as well as its firm intention to strictly observe the agreements within the established deadlines.'
Rouhani and Putin described in positive terms cooperation within the framework of the JCPOA 'in particular, the signing of the contract for pre-project works to alter the two cascades of gas centrifuges in Fordou for the production of stable isotopes and stressed the need for its prompt implementation.'
Tehran and Moscow also called as illegitimate imposition of unilateral sanctions against other nations.
'Imposing unilateral sanctions against countries is illegitimate,' the statement read.
The joint statement says Russia and Iran are unanimous that the NPT treaty is a corner stone of non-proliferation, of building up nuclear disarmament efforts and of using nuclear power for peaceful purposes.'
'Russia and Iran, supportive of the idea of converting the Middle East into a nuclear-free region, confirmed that the resolution on the Middle East, adopted at the 1995 NPT Review and Extension Conference, will stay in effect until its aims have been achieved,' the statement said.
The two presidents emphasized the need to continue joint efforts aimed at building a just world order based on international law, namely the United Nations Charter, as well as at solving global issues.
'By boosting bilateral cooperation, Russia and Iran seek to enhance the central coordinating role of the United Nations in ensuring peace, security and sustainable development, and to further improve its effectiveness,' the statement adds.
Putin has hailed Iran as Russia's most reliable and stable partner.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.