MNA – CEO of Russia’s Rosgeologia Company, working in the field of exploration activities, Roman Panov said that his company will not move from the Islamic Republic of Iran following the US pullout from Joint Comprehensive Plan of Action (JCPOA).

Russia’s Rosgeologia Company has concluded two contracts with the Islamic Republic of Iran in the field of exploration operations, he maintained.

He went on to say that US sanctions on Iran will have no effect on the activity of his company in Iran.

Speaking on Tuesday in a press briefing, he said that his company has projects in the Islamic Republic of Iran, total of which are not subject to US sanctions.

However, “we are not concerned about the consequences of US sanctions imposed on Iran.”

“We have projects in Iran that are related to the mineral extraction operation, water exploration and early stages of exploration of hydrocarbons, so that these project are not subject to US sanctions,” he noted.

However, legal experts of the company study the impact of US sanctions on activity of the company precisely, he emphasized.

Russia’s Rosgeologia Company inked two Memoranda of Understanding (MoUs) with Geological Survey of Iran (GSI) on May 24, 2018.