Russian Railways: EU sanctions against Iran not to affect North-South project

January 24, 2012 - 12:41 AMT

PanARMENIAN.Net - EU sanctions against Iran will in no way affect implementation of the Russian Railways OJSC's project in this country, RIA Novosti quotes Vladimir Yakunin, President of Russian Railways, as saying.

Heads of 27 EU countries approved an embargo against Iran's crude exports during the meeting in Brussels. The new set of sanctions stipulates serial ban of Iranian oil exports to EU countries, with all EU state-members purchasing oil from Iran expected to minimize their imports from that country by July 1.

Russian Railways is involved in the project of Resht (Iran)-Astara (Azerbaijan) railway line construction, implemented jointly with Azerbaijan Railways CJSC and Iranian Railways.

“We do not purchase Iran's oil and it is not my responsibility to discuss if it is right or wrong to impose those sanctions. As regards development of cooperation I always adhered to an opinion that sanctions cannot solve political and intercultural problems,” said Yakunin adding that problems may be settled through cooperation.

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