Iran and Russia prepared multi-year plan to counter Western sanctions

Iran and Russia have reportedly developed a multi-year joint plan aimed at countering Western sanctions, according to Fox News. The plan, outlined in a 44-page Russian government document, aims to increase bilateral trade conducted in national currencies and expand the use of independent financial channels to bypass Western financial controls.

The document, titled "Plan for Cooperation Between the Russian Federation and the Islamic Republic of Iran for 2024-2026," was approved by the Russian side on September 2, 2024, and marked "For official use." While the specifics of the plan remain unclear, sources suggest that Russia and Iran have been successful in transitioning bilateral settlements into national currencies and that Rosatom, the Russian state corporation, will continue to oversee Iran's Bushehr nuclear power plant.

The plan also includes specific projects related to Iranian oil and gas fields and Russian assistance in setting up production of certain aircraft components in Iran.

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