IMG.gif
The Big Picture

An Alliance Shadowed by Rivalry

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
Tehran,-,September,9,,2019,,Military,Museum,,Offensive,Missiles,Of
  • Moscow’s ties with Tehran continue to tighten, as Western sanctions and the Ukraine war prompt closer cooperation, notably in the military and energy sectors.

  • From trading in national currencies to growing a shadow oil tanker fleet and opening up new transport corridors, the two allies aim to thrive unencumbered by the West.

  • But shared interests cannot mask the fact that sanctions will hamper collaboration and force them to compete for a shrinking pool of buyers in their vital oil markets.

As the conflict in Ukraine edges toward its first anniversary and Western sanctions on Russian oil exports tighten, Moscow has drawn ever closer to Tehran. For Russia, Iran's long experience of circumventing sanctions and ability to provide goods that Russia can no longer source from elsewhere have made Iran, for all its limitations, an increasingly useful ally. For Iran, besides advancing its strategy of pivoting east, this represents a unique opportunity to make itself indispensable to the world’s biggest nuclear power.

Topics:
Sanctions, Military Conflict, Trade, Policy and Regulation, Security Risk , Oil Supply, Gas Supply, Oil Trade, Ukraine Crisis
Wanda Ad #2 (article footer)
#
Politics around the Ukraine war have spurred new economic and trading relationships — not least on energy — that are outlining a sharper shift toward a more multipolar world.
Thu, Jan 26, 2023
TotalEnergies has been caught up in some of the recent controversy surrounding its Indian investment partner Adani Group.
Wed, Feb 1, 2023
Russia's 2022 production growth was mainly a result of the expanded drilling activity and bigger number of the producing wells rather than the launch of new fields.
Wed, Feb 1, 2023