From Bloomberg: Russia may set up a venture with Iran to help fund joint investment projects in the Islamic republic, Russian Energy Minister Sergei Shmatko said.

The two countries, which together hold 40 percent of the world’s natural gas and almost a fifth of its oil, have untapped potential to “significantly” increase energy cooperation, Shmatko said in Tehran, according to a statement e-mailed by the Energy Ministry today……………………………Full Article: Source