Economic cooperation between the two countries has been gaining momentum, according to the Russian Foreign Ministry Moscow and Tehran intend to further increase the share of their national currencies in mutual settlements, Russia’s Deputy Foreign Minister Andrey Rudenko said on Friday, adding that the sides have been strengthening cooperation in the banking sector.

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Moscow plans to start year-round LNG deliveries to Asia via Russia’s Arctic waterways, Sergey Zybko, head of the Northern Sea Route (NSR) operator, announced this week. Speaking during the “Arctic: present and future” forum, Zybko said the launch of the pilot program is scheduled for next month.