Iran is stepping up relations with Armenia for economic reasons, Iranian journalist Alireza Ramezani writes in his article published in Al Monitor.

On October 14, Tehran took the opportunity of sanctions relief following the nuclear deal signed in July to send First Vice President Eshaq Jahangiri to Armenia with the view of expanding bilateral economic relations. 

“Armenia is the sole Eurasian Economic Union member state that shares a land border with Iran, and could thus be a “gateway for Iranian goods” to the 5 billion-strong markets of Eurasia and Europe, according to Jahangiri, the most senior Iranian official to have visited Yerevan since 2011. Iran and Armenia have already signed agreements that could keep their ties close for years. For instance, Armenia is providing Iran with electricity in exchange for natural gas imports,” the article reads.

The transaction will continue for the next 15 years,

“It should be noted that Armenia’s political disputes with Azerbaijan and Turkey have left it with Georgia and Iran as the best options for meeting its energy needs,” the journalist writes.