‘Russian companies gearing up for Iran business’

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‘Russian companies gearing up for Iran business’

The New York Times report on Monday said different Russian companies are in line to get back to Iran after last month’s sanctions lift.

Russian aircraft maker Sukhoi wants to sell its Superjet airliners to Iran’s transportation market while Avtovaz has started talks to open an assembly plant for Lada cars in the country.

The oil and natural gas giants Gazprom and Lukoil are weighing investments in a liquefied natural gas (LNG) project on the Persian Gulf and an oil field.

The Eurasia Drilling Company, an oil field services business, and Tatneft, a second-tier Russian oil company based in Tatarstan, a predominantly Muslim region east of Moscow, both have good prospects, the report added.

It also noted that although Tehran is in business with Russia and Europe, American companies are left out of the equation.

It said unilateral US sanctions on Iran prohibit most commercial ties with Tehran, so American companies are not permitted to vie for contracts with its oil and natural gas industry.

The energy industry is especially attractive for overseas companies.

The United States is allowing trade only in Persian rugs and commercial airplanes.

The International Monetary Fund projects that Iran’s economy will grow 5.5 percent in 2016 and in 2017.