Moscow, 11 December 2004. Anatoly Chubais, Chairman of the Management Board of RAO "UES of Russia", and Mohammad Ahmadian, Managing Director of Tavanir Energy Company, Islamic Republic of Iran, signed a Memorandum on Cooperation in the field of electric power. Under the Memorandum, Iran's energy system will be synchronized with the energy systems of Russia, the CIS and Baltic Republics in 2006.

The Memorandum on Cooperation in the field of electric power between the two countries was signed as a result of negotiations between Anatoly Chubais and Iran's Energy Minister Habibollah Bitaraf and the management of Iran's Tavanir electricity generation, transmission, and distribution company.

Preliminary agreement to synchronize the energy systems of Russia, Azerbaijan and Iran had bee reached previously by a tripartite working group comprising representatives of RAO "UES of Russia", Iran's Tavanir, and Azerbaijan's Azerenegy Energy Company. The parties stated that the synchronization will enhance the energy systems' stability, which is especially important in case of power failures and during seasonal peak loads.