Energy is the most successful area of cooperation between Russia and Iraq, said Deputy Prime Minister Yuri Borisov.
The key condition for successful interaction was the implementation of flagship joint projects in Iraq.
The matter concerns the development of the West Qurna-2 field, the Eridu field in Block 10, the Badra project and a number of other projects, Russian media reported.
“The potential in this area is far from being exhausted,” Borisov said at a meeting of the Russian-Iraqi commission on trade, economic, scientific, and technical cooperation in Moscow.
From the Iraqi side, the meeting is attended by Deputy Prime Minister for International Affairs, Foreign Minister Fuad Hussein.
“The discussions were held in a narrow format, with business representatives from both countries,” Borisov’s press service said.
Meanwhile, the Russian-Iraqi trade turnover decreased in 2020 by 52% in annual terms but increased in January-June 2021 by 2.5 times to $113 million.