Representatives of both countries signed four declarations of intent on Tuesday, state Iranian media and the Russian government reported.

Cooperation is to be particularly expanded in the energy sector. Iran hopes for investments in the country’s oil and gas industry, which has been hit hard by international sanctions, it says.

According to the reports, the introduction of the Russian payment system Mir was also discussed. Due to sanctions, both countries are largely banned from the international payment systems, and business people often have to bring large amounts of cash into Iran.

After Russia invaded Ukraine, Western countries imposed sanctions on Moscow, among them financial. Many financial institutions were banned from the international money transfer system Swift.

Iran also allegedly supports Russia’s warfare in Ukraine with so-called kamikaze drones, something the Iranians deny.