UPDATE - Putin prioritizes strengthening trade, economic cooperation with Iran

UPDATES WITH MEETING BETWEEN PUTIN, VENEZUELA'S PRESIDENT MADURO

By Elena Teslova

MOSCOW (AA) — Russian President Vladimir Putin said on Wednesday that strengthening trade and economic cooperation is a top priority in relations with Iran.

During a meeting with Iranian President Masoud Pezeshkian on the sidelines of the 2024 BRICS summit in Russia's city of Kazan, Putin said the intergovernmental commission has been tasked with implementing different projects.

Putin also mentioned the development of Iranian railway infrastructure as part of the promotion of the large-scale North-South international transportation corridor project, as well as the construction of the Bushehr nuclear power plant's second and third power units, among other important Russian-Iranian joint projects.

The Russian leader expressed optimism that the Free Trade Agreement between Iran and the Eurasian Economic Union would be signed by the end of this year.

"In general, I would like to emphasize that Russia and Iran's approaches to the global agenda are more or less similar or identical. We are united in our desire to establish a just multipolar world order, respect international norms, and maintain the United Nations' central role," he said.

Pezeshkian, for his part, said he personally oversaw the implementation of certain agreements because he considers relations with Russia "strategic."

"Our relations are of a strategic nature – it is in the interests of our states to step forward together. Our dear neighbor Russia is a great country," he said.

The Iranian president urged for greater cooperation within BRICS and other formats, and he expressed hope that a new Russian-Iranian interstate agreement would be signed soon.

- Putin urges development of financial ties with Venezuela

At a separate meeting with his Venezuelan counterpart, Putin urged Nicolas Maduro to develop financial and banking ties between two countries based on national currencies.

The Russian leader praised Venezuela as "one of Russia's long–standing reliable partners in Latin America and in the world as a whole," noting that "the relations of strategic partnership between our countries continue to strengthen."

"Mutually beneficial cooperation is developing in all directions. The volume of bilateral trade is also growing, and numerous projects are being implemented in the energy sector, pharmaceuticals, transport, in the field of peaceful space, and new technologies," he said.

For his part, President Maduro said his nation was following the path of BRICS and seeks balance in the world.

He announced an intergovernmental meeting between Russia and Venezuela on Nov. 7, emphasizing that he expects the talks will contribute to achieving "success in all areas of cooperation."