Last week, much of the news about the signing of a “strategic” memorandum to supply Russian pipeline gas to Iran was lost in political din as the election fever gripped the nation.

A memorandum of understanding (MoU) signed between Tehran and Moscow on the potential transfer of Russian gas to the Islamic Republic would help to boost bilateral ties and serve the interests of the two sides and the region, Iran’s acting president said.

Russian energy giant Gazprom has signed a memorandum with the National Iranian Gas Company (NIGC) to supply Russian pipeline gas to Iran, it said on Wednesday.