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Russia, Iran set to ink massive energy deal to offset Western sanctions

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 Iran expects to sign a $40 billion agreement with Russian energy major Gazprom in December, Iranian Deputy Foreign Minister Mahdi Safari said, according to a media report.

“We have closed a $6.5 billion deal with Gazprom. We hope that the remaining agreements totaling $40 billion will be signed next month,” Safari told ISNA news agency, adding that negotiations are underway, RT reported.

The National Iranian Oil Company and Gazprom had agreed in July to cooperate in the development of two gas deposits and six oilfields in Iran. The document also includes swaps in natural gas and oil products, the implementation of LNG projects, and construction of gas pipelines.

In early October, Russia’s Deputy Prime Minister Aleksandr Novak had announced that Moscow and Tehran may agree to a swap of 5 million tonnes of oil and 10 billion cubic metres of gas, to be completed by the end of the year, RT reported.

Novak said that Russia and Iran have already started swap deliveries of energy resources, in particular petroleum products, and agreed to expand the list of traded goods. He also noted that “the amount of Russian investment in Iran’s oil fields will increase”.

The development comes as Russia and Iran rapidly expand their energy and trade ties amid the Western sanctions imposed on both nations. Barter deals help the countries avoid settlement issues presented by the Western financial system. They also enjoy direct trade links via the Caspian Sea, RT reported.

Iranian Petroleum Minister Javad Owji said at the bilateral forum that public and private sectors in both countries are looking to “neutralise the sanctions.”

International News

India & Russia Are Working On Chennai-Vladivostok Eastern Maritime Corridor: PM Modi

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Moscow: Addressing Indians living in Russia, Prime Minister Narendra Modi on Tuesday at a community programme in Moscow said that India and Russia are working on the Chennai-Vladivostok Eastern Maritime Corridor.

PM Modi said that they are discovering each other through Ganga-Volga dialogue.

“Two years ago, the first commercial consignment also reached here from the North-South Transport Corridor… Now we are also working on Chennai-Vladivostok Eastern Maritime Corridor. Both our countries are discovering each other through Ganga Volga dialogue and civilization.”

PM Modi Recalls His Visit To Russia In The Year 2015

He recalled his visit to Russia in 2015 and said that he had then said that the 21st century would be a witness to India’s success and development. Today, the whole world believes the same and it is witnessing India’s growth.

“When I came here in 2015, I had said that the 21st century will belong to India. Experts and veterans of all fields say in unison that India is rapidly progressing.”

Prime Minister said that today, as ‘Vishwa Bandhu’, or ‘a friend to the world’. India is giving new confidence to the world.

“India’s growing capability has given the whole world a hope of stability and prosperity. India is being seen as a strong pillar of the new, emerging, multipolar, world order,” he said.

PM Modi On India

Prime Minister said that India is always the first country to provide aid whenever any country faces a crisis.

“When India talks about peace, dialogue and diplomacy, the whole world listens. Whenever the world faces a crisis, India is the first country to reach there,” he said.

External Affairs Minister S Jaishankar, Foreign Secretary Vinay Kwatra, and India’s Ambassador to Russia, Vinay Kumar also accompanied PM Modi to the event.

Earlier on Monday, Russian President Vladimir Putin and Prime Minister Narendra Modi held an informal meeting at the Novo-Ogaryovo residence of the Russian president near Moscow.

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International News

Iran-Pakistan Diplomatic Tensions Soar As Islamabad Expels Iranian Ambassador Following Tehran’s Missile Attack

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Following Iran’s launch of a barrage of missiles on Pakistan, Islamabad on Wednesday expelled the Iranian ambassador and recalled its ambassador from Tehran, Geo News reported.

“Pakistan has decided to recall its ambassador from Iran and that the Iranian Ambassador to Pakistan who is currently visiting Iran may not return for the time being,” Foreign Office spokesperson Mumtaz Zahra Baloch said while addressing a press briefing in Islamabad.

Earlier, Iran attacked the headquarters of a terrorist group opposed to Tehran with drones and missiles in Pakistan on late hours of Tuesday, Al Arabiya News reported citing Tasnim news agency.

Pakistan’s Ministry of Foreign Affairs said that the violation of Pakistan’s sovereignty is “completely unacceptable” and warned of serious consequences. It further said that Iran has taken this action despite the existence of several channels of communication between the two nations.

‘Responsibility for consequences will lie with Iran’

“Pakistan reserves the right to respond to this illegal act and the responsibility for the consequences will lie squarely with Iran,” Baloch said, adding that Islamabad had conveyed the message to the Iranian government.” The foreign ministry spokesperson said.

Formed in 2012, Jaish al-Adl, designated as a “terrorist” organisation by Iran, is a Sunni terrorist group that operates in Iran’s southeastern province of Sistan-Baluchistan, Al Arabiya News reported.

Over the years, Jaish al-Adl has launched numerous attacks on Iranian security forces. In December, Jaish al-Adl took responsibility for an attack on a police station in Sistan-Balochistan that claimed the lives of at least 11 police personnel, according to Al Arabiya News reported.

Sistan-Balochistan borders Afghanistan and Pakistan. The region has a history of clashes between Iran’s security forces and Sunni terrorists, as well as drug smugglers, Al Arabiya News reported.

Dawn news reported that last month, at least 11 Iranian police officers were killed in an attack overnight on a police station in the southeastern province of Sistan-Baluchestan. Iranian Interior Minister Ahmad Vahidi, while visiting the site, had urged Pakistan to prevent terrorist groups from establishing bases within its borders.

The attacks in Pakistan were carried out a day after Iran’s Islamic Revolutionary Guard Corps (IRGC) launched missiles into Iraq’s Kurdistan region at what it called an Israeli “spy headquarters” and at alleged ISIS-linked targets in Syria, the report said.

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Tsunami Waves Hit Japan After Powerful Earthquake, Terrifying

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Tokyo, January 1: Tsunami waves reportedly hit coastal areas of central Japan after a powerful earthquake of magnitude 7.5 shook the country on Monday, January 1. Several videos surfaced on social media showing tsunami waves hitting Niigata and Ishikawa prefectures of Japan. At least 21 earthquakes above 4.0 magnitude struck Japan after which the country issued tsunami warning.

According to the Japan Meteorological Agency, waves as high as 1.2 meters (four feet) slammed Wajima port in Ishikawa prefecture at 4:21 pm, local time. Waves of 80 cm reached Toyama Prefecture around 4:35 pm and waves of 40 meters also reached Kashiwazaki, Niigata Prefecture, at 4:36 pm, local time. It also reached Niigata’s Sado Island at 4:10 pm, local time.

Tsunami waves hit parts of Japan

One of the videos showed waves breaking over the seawall in Ishikawa prefecture. Another video showed a powerful wave hitting a car in Niigata prefecture.

Power outages hit Japan

The powerful earthquake disrupted power supply in parts of Japan. According to reports, hundreds of residents were left without electricity. As part of preventive measures, the authorities asked people to evacuate from coastal areas of Ishikawa, Niigata, Toyama and Yamagata prefectures and move to safer locations. Traffic authorities closed major highways near epicentre of the Japan earthquake.

Tsunami warnings were also issued for Niigata, Toyama, Yamagata, Fukui and Hyogo prefectures, also along the Japan Sea Coast. Meanwhile, Russia also declared tsunami threat for parts of Sakhalin’s western coast and urges residents to evacuate to higher ground after the Japan earthquake.

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