Russian oil producer Rosneft is interested in oil and gas projects in Iran, according to the Energy Minister, Alexander Novak, Reuters reported citing the RIA news agency. However, the Minister added that “It is too early to talk about any concrete plans as Iran has not yet presented an investment contract.”

Before the sanctions imposed on Iran, some Russian oil and gas companies like Lukoil and Gazprom had been active in Iran’s Oil and gas fields’ since 2010. During sanction era, under the pressure of West and the US, Russian companies suspended their participation, Azer News reported.