Russia to continue policy of full support for Abkhazia – Medvedev

Russia intends to continue its policy of full support for Abkhazia, Russian President Dmitry Medvedev said on Thursday.

“Russia will continue to give full support to the fraternal people of Abkhazia,” Medvedev said during talks with his Abkhaz counterpart Alexander Ankvab.

Medvedev noted that they discussed economic cooperation issues during the talks.

“It is important that trade becomes more balanced,” Medvedev added.

Medvedev said the Russian-Abkhazian legal base currently consists of more than 60 documents at various levels and over 30 more are being negotiated.

This is Ankvab’s first visit to Moscow as president. Ankvab took office on September 26 after winning the Abkhazian presidential election on August 26. Sergei Bagapsh, who headed the republic since 2005, died on May 29 after undergoing lung surgery at a Moscow hospital.


Russia, Iran set to develop world’s largest zinc deposit

Russia and Iran have agreed to jointly develop the world’s largest zink-lead deposit in central Iran, Russian business daily Kommersant said on Tuesday.

“The sides agreed to implement a project on the construction of an ore mining and processing enterprise at the Mehdiabad zinc-lead deposit,” the paper cited a protocol signed at a meeting of the Russia-Iranian commission on trade and economic cooperation on September 11.

Russia’s Rostekhnologii corporation and Iranian Bank Saderat Iran will run the Mehdiabad project with estimated investment of $1.2 billion.

The deposit’s total reserves are estimated at 394 metric tons of ore with an average grade of 4.2% zinc and 1.6% lead.

The implementation of the project could be hampered by the fact that the Iranian bank is subject to UN international sanctions against Tehran, the Kommersant said.