The MoU was signed by Rosatom CEO Alexei Likhachev and the President of the Atomic Energy Organisation of Iran Mohammad Eslami.

Russia sold 35 billion bcm of gas to the European Union in 2024, which positioned Russia as Europe’s largest gas supplier. Gas has not been subjected to EU sanctions, although the EU has stated it wishes to cut off all Russian gas supplies by 2027. Iran’s gas consumption potential can more than make up the difference and is also likely to spur Iranian industrial development.

Among the sanctioned entities is the Zhoushan Jinrun Petroleum Transfer Co., a China-operated oil terminal located within the greater Zhoushan port area.

According to the resolution, IAEA officials are not allowed to enter Iran for inspections unless the security of the country’s nuclear facilities and peaceful nuclear activities is guaranteed.

Speaking at the St. Petersburg International Economic Forum, Bayraktar also said he hoped Iran would continue to supply gas to Turkey over the "years and decades to come."

“We’re not seeking war with anyone. We say they should recognize our rights,” Pezeshkian said. “We have the right to conduct peaceful nuclear research and use it. We need this science for health, agriculture, and industry.”

On April 10, the US Department of the Treasury sanctioned nearly 30 oil tankers involved in shipping Iranian crudes, as well as a Chinese storage terminal.

According to Iran’s oil ministry, Qatar has already implemented pressure enhancement schemes, boosting production on Qatar’s side of the field (called North Dome).

Iran has signed a Comprehensive Strategic Partnership Agreement with Russia.

Iranian President Masoud Pezeshkian said on Monday that an agreement to transform Iran into a regional transit and gas hub is a prime example of cooperation between Tehran and Moscow.