Tehran, Karafarinane Eghtesad – Petroleum Minister Mohsen Paknejad has highlighted Iran’s indigenous capacities in the oil sector and said that in practice, sanctions on Iran have failed to cripple its oil industry.

Speaking to reporters on the sidelines of the cabinet session on Wednesday, Paknejad dismissed the “maximum pressure” claimed by U.S. officials against Iran.

Referring to the 18th meeting of the Joint Commission on Economic Cooperation held in Moscow, he said the two sides signed a document intended to pave the way for leveraging the potential of the Russian companies’ in the oil and gas sectors.

Earlier on April 25, Russia’s Energy Minister Sergei Tsivilev said the annual trade between Russia and Iran surged by 16.2% to reach $4.8 billion in 2024. 

Iran is a reliable partner for Russia, the minister said, adding that a January 17 signing of a strategic partnership deal between the two countries has turned 2025 into a significant year in bilateral relations. 

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