Russian President Vladimir Putin on Friday revealed Russia will begin small gas supplies deliveries to Iran during the signing ceremony of the strategic partnership agreement between the two countries in Moscow.

"If we talk about the volumes of possible deliveries, we believe that we need to start with small volumes, up to 2 billion cubic meters, and overall this could reach delivery volumes of 55 billion cubic meters of gas per year," Putin stated, according to Interfax. At the same time, the Russian president said it is possible to establish cooperation between his country and Iran in the oil sector as well.

Earlier on Friday, Russia and Iran signed the Treaty on Comprehensive Strategic Partnership that elevates the level of bilateral relations between the two nations to a strategic partnership and establishes the basis for expanded cooperation in the energy sector, as well as defense, culture, science, and technology.