RUSSIA'S INVESTMENT FOR IRAN: $50 BLN
BLOOMBERG - Iran said Russia is ready to invest as much as $50 billion in its oil industry even as Western majors are pulling out of deals with the republic amid the threat of U.S. sanctions.
President Vladimir Putin has confirmed the spending plan, with at least three deals worth some $15 billion already on the table, Ali Akbar Velayati, foreign policy adviser to Iran's supreme leader, said in Moscow Friday. Russia is ready to invest in crude exploration and production, as well as refining, he said.
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