ISLAMABAD (TDI): On Friday, Russian Foreign Minister Sergey Lavrov said that Russia’s investments in Iraq’s energy sector have exceeded $19 billion.
He announced this during an exhibition in Moscow marking the 80th anniversary of diplomatic relations between Russia and Iraq, says a statement issued by Russian Foreign Ministry.
Lavrov underscored the significance of the oil and gas industry in their bilateral ties.
Lavrov highlighted that major Russian oil companies, including LUKOIL, Gazprom Neft, and Rosneft, have undertaken substantial projects in Iraq, which account for the majority of these investments.
Russia Investment in Iraq
He noted that Iraq remains a key trading and economic partner for Russia in the Arab world.
The Foreign Minister expressed gratitude for the effective work of the Trade, Economic, Scientific, and Technical Cooperation Commission between the two countries.
He also said that the strategic partnership will continue to flourish, reflecting a spirit of enduring friendship.
Read More:Russian Presidential Assistant calls on Prime Minister of Iraq
The exhibition showcases materials from the Foreign Policy Archive of the Russian Federation, illustrating the history of our multilateral cooperation.
It includes early telegrams establishing diplomatic relations, as well as recent photo reports from ongoing talks and meetings.
Diplomatic ties were first established on September 9, 1944, at a time when Soviet leaders were already contemplating the need for closer relations with the Arab world.
Read More: Russian Presidential Assistant Calls on Prime Minister of Iraq
Over the past 80 years, our countries have continuously expanded and strengthened their bilateral collaboration across various fields.
