Russia and Iran outline expanded cooperation in finance, nuclear energy and transport through 2026 plan

A classified Russian government paper titled “Plan for Cooperation Between the Russian Federation and the Islamic Republic of Iran for 2024-2026” sets out a multi-year strategy to broaden ties with Tehran. Approved on Sept. 2, 2024, the 44-page document assigns ministries, state firms and central banks to develop alternative financial channels, expand nuclear cooperation, and launch joint energy and transport projects.

The plan calls for increasing the share of bilateral trade settled in national currencies from 68% to 71% by 2026 and for the Bank of Russia and the Central Bank of Iran to explore central-bank digital currencies for cross-border settlements. It also seeks “independent systems for transmitting financial messages,” though it does not name a specific messaging network.

"U.S. sanctions have severely isolated Russia and Iran from the international financial system," a U.S. official said on background, adding that Washington monitors attempts to create alternative payment mechanisms.

In the nuclear sector, the roadmap confirms Rosatom’s ongoing role at Iran’s Bushehr plant, including fuel supply and maintenance for Unit 1 and construction work on Units 2 and 3. Rosatom announced in September 2026 that Russian specialists had returned to Bushehr and that fuel deliveries were underway.

Energy cooperation includes Russian involvement in Iran’s Shadegan, Kish and North Pars oil and gas fields, with some financing listed as “confidential.” Russian state-owned ZN-Vostok was reported in February 2026 to be developing the Shadegan field.

The document also outlines aviation collaboration, directing Russian authorities to identify Iranian firms capable of producing parts for Russian aircraft, certify them through Rosaviatsiya and reach a localization agreement by March 31, 2026, with prototype production targeted for the end of 2026. By early 2025, three Iranian companies had received approval to perform maintenance on Russian-operated aircraft.

Transport initiatives feature a proposed railway using Russia’s 1,520-mm gauge from Iran’s Azerbaijan border to Persian-Gulf ports, and engineering surveys for the Rasht-Astara link in the International North-South Transport Corridor began in May 2025. An Iranian-owned terminal with storage facilities was later reported in Astrakhan, matching the roadmap’s description.

The plan further calls for joint media projects, journalist training, and contracts for Russian technology firms in Iran’s information-security and telecommunications sectors.

"Russia and Iran can try to build alternative financial channels, but they cannot replicate the reach, liquidity or trust of the U.S. dollar and the international financial system," the U.S. official added.

Energy Minister Sergei Tsivilev, who chairs the Permanent Russian-Iranian Commission on Trade and Economic Cooperation, is married to Anna Tsivileva, a deputy defense minister and relative of President Vladimir Putin, underscoring the political weight Moscow places on the partnership.