As lifting of sanctions on Iran boosted the influx of Iranian crude into international oil markets, some analysts and industry experts reckon that Iran and Russia are likely to be forced to compete with each other for market share in European and Asian markets, especially in the wake of growing tensions between Russia and Europe. However, a number of developments in Moscow-Tehran relations, point to the countries’ pursuit of a collaboration strategy rather than direct competition in the oil and gas industry and in the energy sector on the whole. After the former saw its sanctions removed, Iran and Russia have demonstrated a distinct effort in tightening their cooperation in energy, industrial and infrastructure projects and investment. In July 2016, Russia and Iran signed a new strategic five year plan that encompassed thirteen agreements that focused on energy, construction and trade. It appears as if Russia has been given […]